/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/
TORONTO, June 21 /CNW/ - South American Gold and Copper Company Limited
("the Corporation"), (TSX: SAG) is pleased to announce that it has closed
Cdn. $1,321,575 (26,431,515 Units) of its previously announced private
placement of US $1,400,000 with a major shareholder and a director of the
Corporation which was reported on March 29, 2007.
The full amount of US $1,400,000 has been received by the Company, but
the issuance of 4,928,485 additional Units to this shareholder and director is
subject to shareholder approval on or before October 26, 2007. Each Unit
consists of one common share and one common share purchase warrant exercisable
for three years at an exercise price of Cdn $0.07 per share.
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, CEO, Website:
www.sagc.com; Registered Office: 100 WELLINGTON STREET WEST, SUITE 500,
TORONTO, ONTARIO, M5K 1H1, CANADA; New York Representative Office: 420 MADISON
AVENUE, NEW YORK, NEW YORK, 10017