/NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES/
TORONTO, Nov. 10, 2014 /CNW/ - Sulliden Mining Capital Inc. (TSX: SMC) announces a non-brokered private placement financing of up to 5,000,000 units at a price of $0.40 per unit for proceeds to the company of approximately $2,000,000. Each unit will be comprised of one common share and one‑half of a share purchase warrant, with each whole warrant entitling the holder to acquire one common share at a price of $0.50 at any time within the five years following closing.
Sulliden expects that current shareholders will subscribe for most of the offering. Further, Sulliden intends to use the proceeds to opportunistically pursue investment opportunities in this volatile commodity market.
Closing is expected to occur on or before November 17, 2014 and is subject to the receipt of regulatory approvals, including the approval of the Toronto Stock Exchange. The securities issued on the financing will be subject to resale retrictions for a period of four months plus one day from the closing date.
About Sulliden Mining Capital
Sulliden Mining Capital is a venture capital company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas.
Sulliden Mining Capital Inc.
On behalf of the Board
President & Chief Executive Officer
Cautionary statement regarding forward-looking information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the proposed use of proceeds and the size of the financing. Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Sulliden Mining Capital
For further information: Caroline Arsenault, Investor Relations Manager, +1 (416) 861-5805