Cascadero Copper Corporation Announces Changes to 1,500,000 Unit Non-Brokered Flow-Through Private Placement
AUGUST 31st 2011
Cascadero Copper Corp announces changes to a non-brokered private placement of up to 1,500,000 Flow-Through units at C$0.20 per unit for a total of $300,000, which was announced on August 15th 2011.
The offering now consists of up to 3,000,000 Flow-Through units at $0.16 per unit for a total of $480,000. Each unit consists of one common share and one warrant. The warrant entitles the holder to purchase one common share at C$0.20 per share for a period of two-years from closing. The units are subject to a 121-day hold period from closing. There is no agent but a finder fee is payable in cash. The warrant is transferrable. The offering will close in tranches.
Completion of the financing is subject to regulatory approval, including acceptance of the financing by the TSX Venture Exchange.
Subject to closing the 3,000,000 unit offering, Cascadero will have 108.9 million shares issued.
Cascadero intends to use the proceeds for continued exploration on recently acquired properties in Ontario. The Ontario properties are primarily volcanic and intrusive hosted gold prospects in the Sudbury, Timmins and Swayze mineral districts.
Bill McWilliam President Cascadero Copper Corp 604-999-0391 [email protected]
For more information, please contact Allan or Janice Feldman at AJF Consultants:
1207 Beach Grove Road, Tsawwassen, BC Office = 604-948-9663 Cell = 604-377-2942
ABOUT CASCADERO COPPER CORP
Cascadero Copper is an integrated prospecting and mineral exploration business. The Company has offices in North Vancouver, BC, Sudbury, Ontario and Salta City in the province of Salta, Argentina. The Company generates, acquires and explores mineral properties. Exploration is active in BC, Ontario and Argentina.
In BC, in July 2011 Gold Fields completed a seven-core hole drill program consisting of 2,448- metres on the MEX copper-gold prospect. Gold Fields Ltd holds an option to earn a 75% interest in Cascadero's BC porphyry property by spending C$20 million over four years. Assays are pending.
In Ontario, Cascadero has completed sampling and geophysics on two of its 22 (100%) owned prospects. Initial sampling results are excellent with gold values up to 30-grams per tonne (~ one- ounce gold). Geophysics (IP/Res/Mag) on these properties has identified favourable host rock directly below the gold samples on surface and in the area of drill holes which have gold and copper values.
In Argentina in June 2011, the Company has drill tested Las Burras, which has produced a discovery hole in a new and potentially large copper-moly-gold deposit. In 2011, Cascadero plans to drill test two (2) additional copper-gold porphyry systems and two (2) high-grade sediment hosted gold showings. The first prospect is Las Cuevas where drilling started on August 10th 2011.
Cascadero's commodity focus is gold, silver and base metals, which metals are hosted in large- scale mineral systems. The Company has identified 18 such targets in BC, Ontario and Argentina.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.