| October 14, 2009 Capella Announces Increase In Brokered Private Placement For Gross Proceeds Of $3.5 Million (Subject To Over-Allotment) | |
| Vancouver, B.C., October 14, 2009 - CAPELLA RESOURCES LTD. (TSX-V: KPS) ("Capella" or the "Company") the Company is pleased to announce that it has increased the brokered private placement described in its news release of October 5, 2009 (the "Offering"), from $3.0 million to $3.5 million. The other terms of the Offering remain as disclosed in the Company's October 5th news release. The lead agent for the Offering is Canaccord Capital Corporation ("Canaccord") and the syndicate includes Haywood Securities Inc. ("Haywood" and together with Canaccord, the "Agents"). The Agents have retained the $500,000 over-allotment option (the "Over-allotment Option") described in the Company's October 5th news release. If the Agents exercise the Over-allotment Option in full, the Offering will consist of up to 13,333,333 Units for gross proceeds of up to $4,000,000. Closing of the Offering is anticipated to occur on or before October 27, 2009 and is subject to the receipt of all necessary corporate and regulatory approvals including approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The funds raised from the issuance of the Units will be used for general exploration expenditures and general working capital purposes. About Capella Resources Ltd. Capella Resources Ltd. is a publicly traded, junior exploration and mineral development company with a strong portfolio of precious and base metal projects in Chile, USA and Atlantic Canada. The Company has a 100% interest in the Lajitas and Nevada gold-copper properties located in the Maricunga Gold and Copper District approximately 700 kilometres northwest of Santiago, Chile. The properties comprise ten exploration claims and six exploitation claims totalling a cumulative 3,500 hectares in area. The Company holds a 100% interest in the Tinton Gold Project located 15 kilometres west-northwest of the famous and historic Homestake Mine in the Black Hills at Lead, South Dakota. The Tinton property consists of 1,270 hectares contained in 157 unpatented mining claims. The Company also holds 3839 mineral exploration claims covering an aggregate land area of over 71,558 hectares in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador). CAPELLA RESOURCES LTD. (signed) per: "Richard Bachman" Richard Bachman, Chief Executive Officer, President & Chief Geological Officer For further information, please contact: Capella Resources Ltd. Graham Johnstone 1-778-331-2023 Toll Free: 1-877-321-7474 Email: info@capellaresources.com FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. | |
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