CLV.P Canoe Mining Ventures Corp

Chudleigh Ventures Inc. ("Chudleigh") (TSX VENTURE:CLV.P), a Capital Pool
Company, is pleased to announce it will increase the size of its previously
announced private placement that will close concurrently with its Qualifying
Transaction. Chudleigh now intends to offer (the "Offering") a minimum of 24.4
million units and a maximum of 34 million units, at a subscription price of
$0.25 per unit, for gross proceeds of between $6.1 million and $8.5 million.
Each unit will consist of one common share and 1/2 warrant, each whole warrant
entitling the holder to acquire one additional common share at a purchase price
of $0.40 for a 24 month period.


Chudleigh had previously announced on November 7, 2008 and September 29, 2008
the terms of its Qualifying Transaction (as that term is defined by the policies
of the TSX Venture Exchange) whereby it will complete a business combination
with Sweet Diabetic Delight Foods Inc., doing business as Xylitol Canada
("Xylitol Canada"). Xylitol Canada entered into a joint venture with SunOpta
BioProcess Inc. ("SBI") on March 27, 2008 pursuant to which the parties
developed a proprietary xylitol production process (the "Joint Venture").
Xylitol Canada and SBI have entered into a non-binding term sheet whereby SBI
has agreed to contribute the assets developed in the Joint Venture to Xylitol
Canada and supply Xylitol Canada with sufficient feedstocks to enable Xylitol
Canada to operate a pilot production facility as well as provide assistance and
expertise for the operation of such a facility, in exchange for SBI becoming a
50% holder of Xylitol Canada's issued and outstanding common shares.


Canaccord Capital Corporation will act as lead agent and has agreed to act on a
commercially reasonable efforts basis with respect to the Offering. The proceeds
from the Offering will be used for the construction of a pilot plant to test
commercial scale production of xylitol, a natural sweetener, and for general
working capital purposes.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance. There can be no assurance that the
transaction will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.

Canoe Mining Ventures Corp (TSXV:CLV.P)
過去 株価チャート
から 5 2024 まで 6 2024

Canoe Mining Ventures Corp (TSXV:CLV.P)
過去 株価チャート
から 6 2023 まで 6 2024