MONTREAL, June 17 /PRNewswire-FirstCall/ - Campbell Resources Inc. (TSX:
CCH, OTC Bulletin Board: CBLRF) ("Campbell") is pleased to announce that a
group of investors has purchased 2,083,333 flow-through common shares of
Campbell at $0.12 each for total proceeds of $250,000. This is the final
tranche of a previously announced non-brokered private placement. With this
final tranche, $3.54 million has been raised, which is higher than the
previously-announced total of $3.5 million.
A cash commission of 6% of the proceeds was paid to an agent.
All securities issued pursuant to the private placement are subject to a
four-month hold period. The private placement is subject to final approval by
the Toronto Stock Exchange.
Campbell intends to use the proceeds of the financing to continue its
exploration program at the Corner Bay property and other properties it owns in
the Chibougamau area.
About Campbell Resources Inc.
Campbell concentrates on the development and exploitation of copper and
gold mining properties in the Chibougamau region of Quebec. The geographical
grouping of its operations allows Campbell to realize economies of scale and
to focus development within access to existing infrastructures. Campbell's
main operations include the Copper Rand and Merrill mines, the Corner Bay
project and the Copper Rand mill. Campbell's headquarters are located in
Montreal, Quebec.
Certain information contained in this release may contain "Forward-Looking
Statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and is subject to certain risks, assumptions and uncertainties,
including those "Risk Factors" set forth in the Campbell's current Annual
Report on Form 20-F for the year ended December 31, 2007, which may cause
actual future results to differ materially from those expressed or implied in
any forward-looking statement. Such factors include, but are not limited to:
differences between estimated and actual mineral reserves and resources;
changes to exploration, development and mining plans due to prudent reaction
of management to ongoing exploration results, engineering and financial
concerns; and fluctuations in the gold and copper prices which affect the
profitability and mineral reserves and resources of Campbell. The key
assumptions underlying the forward-looking statements contained in this
release are that the gold and copper prices remain equal to or above the
prices disclosed herein. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date hereof.
Forward-looking statements are expressly qualified in their entirety by this
cautionary statement.
SOURCE CAMPBELL RESOURCES INC.