Further to the Company's News Release dated November 6th, 2001, the Company has increased the previously announced private placement.
Subject to regulatory approval, the Company has agreed to sell by Non Brokered Private Placement to a majority of arm's length investors a maximum of 4,000,000 units at $0.15 to raise a total of Cdn$600,000. Each unit will comprise one share and one non-transferable share purchase warrant. One non-transferable share purchase warrant allows the placee to purchase one previously un-issued share of the company for $0.20 cents for a period of twelve months and for $0.25 cents for the ensuing twelve months. A finders' fee will be paid to registered dealers who make introductions to placees.
The funds will be used for general working capital and exploration programs on the Company's gold properties in Peru. A North American fund, The Prudent Bear has agreed to purchase US$150,000 (Cdn$235,510) of the units. Upon completion of the Private Placement, The Prudent Bear, in addition to previous investments, will own in excess of 10% of the total issued and outstanding shares of the Company.
Candente is an exploration company with world class projects in Peru. The Company now has 9.24 million shares out and is fully diluted at just under 13 million shares. Current exploration focus is on delineating gold drill targets on the Lunahuana (previously Columbia) gold-copper project and the El Tigre epithermal gold project.
For more information visit www.candente.com and call us at (604) 689-1957 or e-mail to info@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.