Sea Green Capital Corp. Closes Financing
of $500,000 with the MineralFields Group
Sea Green Capital Corp. (TSX
VENTURE:SGS) ("Sea Green" or the
"Company") is pleased to announce the closing of a non-brokered
private placement of $500,000 with the MineralFields
Group (the "Offering"). Sea Green issued 10,000,000 flow-through
units (the "FT Units") at a price of $0.05 per FT Unit.� Each flow-through unit is comprised of 1 common share
and one-half of one non-flow-through share purchase warrant, with each whole
warrant being exercisable into a common share at an exercise price of $0.15 for
a term of 18 months.
A cash finder's fee of $30,000, to
Limited Market Dealer Inc., representing 6% of the gross proceeds of the
Offering, was paid by Sea Green in connection with the Offering as well as the
issuance by Sea Green of a non-transferable option (the "Finder
Option") to acquire 800,000 units of Sea Green (the "Finder
Units").� The Finder Option is exercisable into Finder Units for a
period of 18 months following the closing of the Offering at an exercise price
of $0.05 per Finder Unit.� Each Finder Unit
will consist of one common share of Sea Green and one-half of one common share
purchase warrant of the Company, with each whole warrant being exercisable into
a common share at an exercise price of $0.15 for a term of 18 months.�
The gross proceeds of the Offering
will be used by Sea Green for exploration of its Zeus and CO properties in the
Yukon and its properties in the Casa-Berardi Region
of Quebec.
The securities issued pursuant to
the Offering will be subject to a four month hold period from the date of
closing of the Offering.
“We are very pleased to be
entering into this relationship with MineralFields Group���, said Alexader MacKay, President and CEO.� “This is an important milestone in the growth of Sea
Green Capital Corp. and we look forward to working with MineralFields
Group as we develop our holdings in the Yukon Territories.���
About the MineralFields
Group
MineralFields Group (a division of
Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary,
is a mining fund with significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors throughout
Canada as well as hard-dollar resource limited partnerships to investors
throughout the world. The sector focus is on gold and precious metals, base
metals, rare earths and lithium, potash, uranium, oil, coal and gas.� Pathway Asset
Management also specializes in the manufacturing and distribution of structured
products and mutual funds (including the Pathway Multi Series Funds Inc.
corporate-class mutual fund series). Information about MineralFields
Group is available at www.mineralfields.com.� First Canadian Securities
® (a division of Limited Market Dealer Inc.) is active in leading resource
financings (both flow-through and hard dollar PIPE financings) on competitive,
effective and service-friendly terms, and offers investment banking, mergers
and acquisitions, and mining industry consulting, services to resource companies.� MineralFields
and Pathway have financed several hundred mining and oil and gas exploration
companies to date through First Canadian Securities ®, and have raised over $1
billion in their 10 year history.
About Sea Green Capital
Corp.
Sea Green Capital Corp. is a
Canadian based junior exploration company focused on gold exploration in the
Yukon White Gold District and Casa-Berardi Region of
Quebec.
Forward Looking Statements -
Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Sea Green Capital
Corp.., including, but not limited to the impact of general economic
conditions, industry conditions, and dependence upon regulatory approvals.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.