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Under the terms of the private placement, the company will offer for sale a maximum of 5,000,000 units at CAD0.65 per Unit.
Each unit will consist of one common share of the company and one-half of one share purchase warrant, which will allow the subscriber to purchase one additional common share of the company at CAD0.85 for a period of two years from the closing date.
The company said that the units issued upon the closing of the private placement will be subject to a four-month hold period.
The private placement is subject to the acceptance of the TSX Venture Exchange.
Proceeds from the private placement will reportedly be used by Sacre-Coeur to fund a test mining programme and also for further exploration and drilling at the Lower Puruni Project. The funds will also be used for exploration elsewhere on the company's portfolio and for additional working capital.
(USD1=CAD1.159)
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