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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX)
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From: Frankly Speaking1/23/2007 11:05:32 PM
   of 960
 
Capital Alliance to raise $4.18-million privately

2007-01-23 16:06 ET - News Release

Mr. Toby Chu reports

CAG REPORTS $4.18M PRIVATE PLACEMENT

Capital Alliance Group Inc. has negotiated concurrent brokered (through Canaccord Capital Corp.) and non-brokered private placements for total proceeds of $4,183,000 (including Canaccord's overallotment option). Three accredited investors are purchasing most of the offering. The private placement is fully committed and proceeding to closing documents.

The proceeds will be raised through the offer of units at 75 cents per unit. Each unit consists of one common share and one-half of one share purchase warrant, each warrant entitling the holder to purchase one common share at a price of 80 cents each for a period of two years. Canaccord will be paid a cash commission equal to 7 per cent of the gross proceeds raised from purchasers introduced by Canaccord, and agents' warrants equal to 7 per cent of the units sold to purchasers introduced by Canaccord. Each agent's warrant will be exercisable, for a period of two years, into one common share at a price of 75 cents each. CAG will also pay certain expenses incurred by Canaccord and a small administration fee in association with the offering. The offering is subject to receipt of TSX Venture Exchange acceptance.

The securities issued in these private placements will be subject to a hold period of four months from the closing date. The private placement is in addition to the U.S. financing currently in progress with BMO Capital Markets of New York.

We seek Safe Harbor.
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