Vancouver, British Columbia, June 9, 2008. Candente Resource Corp. (DNT:TSX) ("Candente") is pleased to announce that it has appointed Raymond James Ltd. as lead for a syndicate of agents including Blackmont Capital Inc. and Wellington West Capital Markets Inc. (collectively the "Agents") to sell by way of private placement on a "best efforts" basis, common shares of Candente at an offering price of $1.60 per share.
Funds raised by the Agents will be part of a larger offering (the "Global Offering") by Candente of common shares, which will include a private placement through Credibolsa S.A.B. S.A. ("Credibolsa") of Peru as well as a non-brokered private placement. All of these placements will be completed at the same price.
The Global Offering will total approximately Cdn$10,000,000. Candente will pay the Agents and Credibolsa a fee of 6% in cash and issue broker warrants entitling each party to purchase that number of common shares equal to up to 6% of the number of shares sold by them.
The net proceeds of the Global Offering will be used for funding exploration and development activities on the Company's mineral properties and for general corporate purposes.
The Global Offering is anticipated to close on or about June 26, 2008 and remains subject to certain conditions, including satisfactory due diligence by the Agents and the receipt of all required regulatory and other acceptances, including the acceptance of the Toronto Stock Exchange (TSX).
About Candente Resource Corp.
Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. The Cañariaco Norte property, a copper deposit located in Northern Peru, is currently in advanced resource definition and Preliminary Economic Assessment stage. Candente's directors and management have a track record in the discovery and development of copper, gold and silver deposits and subscribe to principles which ensure that exploration and development activities are beneficial to the local communities.
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.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms which are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.
For further information please contact:
W. John DeCooman, Jr.
Vice President Finance and Corporate Development
+1 (917) 402-9416
Roth Investor Relations
+1 (732) 792-2200
Formentera Capital Group
+1 (604) 731-8244
Visit our website at www.candente.com.