Candente Resource Corp. - DNT:TSX-Ven (the Company) is pleased to announce it has closed the previously announced non-brokered private placement of 1,700,000 units at $0.60 per unit to raise a total of Canadian $1,020,000 with Goldcorp Inc.. Each unit consists of one share and one half share purchase warrant. One whole non-transferable purchase warrant allows Goldcorp. to purchase one share of the Company at a price of $0.90 per share during the first twelve months and $1.10 per share during the second twelve months. The common shares issued under the units are subject to a 4 month hold period expiring June 22, 2003. The funds will be used for general working capital and exploration of the Company's gold properties in Peru and Newfoundland.
This financing is the first step in the development of a strategic partnership between Goldcorp and Candente for exploration in Newfoundland.
On another matter, Candente's management would like to invite you to come and meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: Prospectors and Developers Conference, March 9th to 12th in Toronto, Ontario, the Chicago Natural Resource and Technology Exhibition and Conference, April 12th in Chicago, IL; the Cambridge Montreal Investment Conference April 12th and 13th Montreal, Quebec and the International Investment Conference, April 26th and 27th in Las Vegas, CA.
Candente is a well financed junior exploration company focused on the acquisition, exploration and development of world-class gold and copper projects. For more information on our current exploration progress visit www.candente.com and/or call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to investor@candente.com.
Go to http://www.candente.com/s/NewsReleases.asp?ReportID=54115 to find this News Release on our website.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.