Cayden Arranges a Non-Brokered Private Placement for $4.2 Million
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/08/12 -- Cayden Resources Inc. (TSX VENTURE: CYD) ("Cayden" or the "Company") is pleased to announce that it has arranged a financing for $4.2 million through a non-brokered private placement. The financing will consist of 4.2 million units (the "Units") of the Company at a price of CAD$1.00 per Unit (the "Offering"). Each unit will consist of one common share plus one half of one common share purchase warrant with each whole purchase warrant exercisable into a common share at a price of $1.50 for a period of 24 months from closing. The Company intends to use the net proceeds of the Offering to fund the advancement of the Company's Morelos Sur and El Barqueno projects in Mexico and for general corporate purposes.
The Company may pay finder's fees on the private placement in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
Closing of the Offering is anticipated to occur on or before August 17, 2012 and is subject to certain conditions including, but not limited to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.
On Behalf of the Board,
Ivan Bebek, President and CEO
About Cayden Resources
Cayden is a well financed junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located throughout the Americas. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol "CYD".
For more information on Cayden Resources, please visit our website at www.caydenresources.com.
Forward Looking and other Cautionary Information
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares 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, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cayden Resources Inc.
Ivan Bebek
President and CEO
604-683-8193 or Toll Free: 800-863-8655
604-683-8194 (FAX)
www.caydenresources.com