Funds raised by the Agents will be part of a larger offering by Candente of common shares and Units, which will include Peruvian and Chilean shareholders of Candente (the "Global Offering"). The Company is in discussions with Credibolsa S.A.B. S.A. to act as agent for the offering in Peru and Chile. Credibolsa is Candente's sponsor for the Lima Stock Exchange (BVL).
The total number of common shares and warrants issued under the Global Offering will be limited to not more than 25% of Candente's issued shares immediately before closing of the Global Offering.
The net proceeds of the private placement will be used for funding exploration and development activities on the Company's mineral properties and for general corporate purposes. The Global Offering is scheduled to close on or about June 7th, 2007 and remains subject to certain conditions, including satisfactory due diligence and the receipt of all required regulatory and other acceptance, including the acceptance of the Toronto Stock Exchange (TSX).
Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. Candente has an advanced exploration stage leachable copper project, Cañariaco, and several other gold, copper and silver projects in Peru and Mexico. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.
For further information please contact Joanne Freeze or Neil Currie at: (604) 689-1957 or toll free 1-877-689-1964; or info@candente.com www.candente.com.
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NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
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. Candente relies upon litigation protection for forward-looking statements.