South American Gold and Copper Company Announces Agreement for Raising up to Cdn $3,842,800


    TORONTO, Nov. 22 /CNW/ - South American Gold and Copper Company Limited
(the "Company") (TSX: SAG) announces today that it has entered into an
agreement with Global Advisors Management Limited ("Global") to raise up to
Cdn $3,842,800 for the Company on a best efforts basis (the "Offering").
Global and its affiliated Companies provide money management services for high
net worth individuals located primarily in South America. The Toronto Stock
Exchange ("TSX") has approved the Offering subject to receipt by the TSX of
standard documentation.
    Under the terms of the proposed financing, Global will raise up to Cdn
$3,842,800 in the form of units of the Company (the "Units"), each Unit
consisting of one common share of the Company (each, a "Common Share") and one
half of one Common Share purchase warrant (each whole Common Share purchase
warrant, a "Warrant") at a price of Cdn $0.0416 per Unit, with each Warrant
exercisable to purchase one Common Share at an exercise price of Cdn $0.06 per
Common Share for a period of two years from the date of issue of the Warrants.
The Common Shares and the Warrants will have a trading restriction of four
months and one day from the date of issue. As of November 21, 2007 the Company
had 576,717,748 Common Shares outstanding.
    The Company will pay Global a cash commission equal to 8% of the
aggregate gross proceeds of the Offering and issue up to a maximum of
5,616,937 Common Share purchase warrants (each, a "Broker Warrant"), with each
Broker Warrant exercisable to purchase one Common Share at an exercise price
of Cdn $0.045 per Common Share for a period of two years from the date of
issue of the Broker Warrants.
    Proceeds of the offering will be used primarily to put the Company's 100%
owned Pimenton Gold/Copper mine back into production and the balance will be
used for general corporate purposes.

    South American Gold and Copper Company Limited is a minerals producing,
exploration and development company with properties and activities currently
focused in Chile.

    FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.

For further information:

For further information: Stephen W. Houghton, Chief Executive Officer;
Patrick Esnouf, President, Telephone: 56-2-264-2295, Website:

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