Candente Resource announces C$9 million placement of units, shares

By Laura Lutz

Des Moines, May 14 - Candente Resource Corp. plans to conduct a private placement of units and common shares for up to C$9 million.

Each unit will consist of one share and a partial warrant.

Pricing for the deal has not been set.

A syndicate led by Westwind Partners Inc. and including Raymond James Ltd. will act as agents.

The private placement will be part of a larger global offering of common shares and units. The size of the larger deal is capped at 25% of Candente's issued shares immediately before closing.

Proceeds will be used for exploration and development and for general corporate purposes.

Settlement of the global offering is expected on June 7.

Candente is a copper and gold exploration company based in Vancouver, B.C.

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