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Mr. Sokhie Puar reports


Candelaria Mining Corp. is offering, on a non-brokered private-placement basis, up to 20 million units of the company at a price of 15 cents per unit for total proceeds of up to $3-million. Each unit will consist of a common share of the company and one-half of a share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at a price of 25 cents per share for a period of 18 months.

The company also announces that is offering up to $2.5-million of unsecured convertible notes. The notes will bear interest at 6 per cent annually, (paid monthly) and will be convertible into common shares of the company for a period of 24 months at 15.5 cents per share.

The offerings are subject to stock exchange approval. Pursuant to applicable securities laws, all securities issued pursuant to the offerings will be subject to a hold period of four months plus one day following closing of the offering.

The proceeds from the private placement will be used to advance the Caballo Blanco acquisition and for general working capital.