Cadillac Ventures reports private placement

Cadillac Ventures Inc. (TSX VENTURE:CDC) reported that the company has entered into an agreement with Trafigura Beheer, B.V. ,an existing shareholder of the Company, for a non-brokered private placement financing pursuant to which it will issue 5,000,000 units to Trafigura at $0.40 per unit for gross proceeds of $2.0 million.

The press release is quoted as saying:

Cadillac is a development-focused exploration Company which has the past-producing Thierry Property near Pickle Lake in Northern Ontario, two Canadian exploration projects, located in regions that have been historically active, and exploration projects in Spain. The New Alger project located outside of Cadillac, Quebec is a wholly-owned, previously producing gold mine, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. The Burnt Hill Project is 51% owned tungsten tin project located outside of Fredericton, New Brunswick.

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