/NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES/
TORONTO, Nov. 25, 2014 /CNW/ -Sulliden Mining Capital Inc. (TSX: SMC) announces the closing of its non-brokered private placement financing for gross proceeds of $2,000,000 through the sale of 5,000,000 units at $0.40 per unit. Each unit is comprised of one common share and one‑half of a share purchase warrant, which is exercisable at $0.50 for a period of five years.
Sulliden intends to use the proceeds of the private placement to pursue strategic acquisitions and/or investment opportunities in the resource sector, as well as for general corporate purposes. The financing remains subject to final approval of the Toronto Stock Exchange, which Sulliden expects to receive in the ordinary course.
Management and Board Changes
Sulliden is pleased to welcome Deborah Battiston as its chief financial officer.
Deborah Battiston is a CPA-CGA who holds BA in Economics from the University of Guelph and has over 20 years of financial management experience. Ms. Battiston has broad public company and mining expertise having served as CFO for a multitude of public resource sector companies. Ms Battiston has managed the financial departments of numerous successful domestic and international organizations through exploration, development and into production. She formerly served as CFO for Consolidated Thompson Iron Mines, Largo Resources Ltd. and Forbes and Manhattan Coal Corp, and is currently CFO of several companies in the mining sector including Allana Potash Corporation.
Additionally, Peter Tagliamonte, former chairman of the Company, will assume the roles of senior vice‑president and executive director. Stan Bharti will replace Mr. Tagliamonte as chairman of the board.
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 receipt of final regulatory approval. 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. 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