TSX.V:PCV
Pacific Cascade Closes $350,000 Private Placement
Pacific Cascade Closes $350,000 Private Placement
Vancouver, British Columbia, Canada - October 7, 2010 - Pacific Cascade Minerals Inc. (the "Company") has closed its non-brokered private placement financing of 7,000,000 units at $0.05 per unit for aggregate gross proceeds of $350,000.
Each unit consists of one common share and one-half (1/2) of one share purchase warrant of the company. Each whole share purchase warrant entitles the holder, on exercise, to purchase an additional common share of the company at a price of $0.10 per share at any time until March, 2012. The securities issued are subject to a four-month hold period.
The Company paid $22,400 as finders' fees on a portion of the private placement.
Proceeds of the private placement will be used for working capital and to continue the Company's exploration program on its wholly-owned Crack-Moly and Brewster Lake properties. The Company is also reviewing and considering new mineral exploration projects.
The Company's anticipates that its shares will resume trading through the facilities of the TSX Venture Exchange at the opening of market on Tuesday, October 12, 2010.
On behalf of the Board of Directors
"Harold Forzley"
President / CEO
Pacific Cascade Minerals Inc.
For more information contact Harold Forzley, President /CEO at:
Telephone: (604) 637-1341
Facsimile: (604) 801-5911
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release. We seek Safe Harbor.
