Cream Minerals Private Placement

Cream Minerals Ltd. (TSX-V - CMA) has announced that subject to regulatory approval, it will carry out a non-brokered private placement financing.

Non Flow-Through Units

The non flow-through unit financing will consist of one NFT Unit at a price of $0.07 per NFT Unit. Each NFT Unit is comprised of one common share in the capital of Cream and one non-transferable share purchase warrant. Each Warrant entitles the holder to purchase one additional common share of Cream for a period of 24 months at the exercise price of $0.10 per Warrant Share for a period of 12 months from the date of issue of the Warrant and at a price of $0.15 per Warrant Share for the remaining 12 month period.

Compensation may be paid to certain eligible arm’s-length Finders where such Finders arrange for subscribers to the private placements, and may be comprised of cash and/or units of the Company. The maximum number of Finder’s Units that may be issued will be a number equal to 10% of the number of NFT Units sold by such Finders.

Each Finder’s Unit will consist of one common share and one non-transferable share purchase warrant (the “Finder’s Unit Warrant”). Each Finder’s Unit Warrant will entitle the holder, on exercise, to purchase one additional common share of the Company (a “Finder’s Unit Warrant Share”) for a period of 24 months following the date of issue of the Finder’s Unit at an exercise price of $0.10 per Finder’s Unit Warrant Share for a period of 12 months from the date of issue of the Finder’s Unit Warrant and at a price of $0.15 per Finder’s Unit Warrant Share for the remaining 12 month period.

If the Company shares trade at or above $0.30 per share for ten consecutive trading days, the Company may, at its discretion, accelerate the expiration of the Warrants and Finder’s Unit Warrants by providing notice in writing to the holders of such securities, whereby the Warrants and Finder’s Unit Warrants will expire within 30 days from the date of such written notice.

The net proceeds from the sale of the NFT Units shall be used for the further exploration and development of the Company’s projects in Mexico and Canada and for working capital.

Posted Jan. 26 .10

Return to Home Page…


China Mining 2010 : World's Premiere Mining Congress and Exhibition Minesnooper