MONTREAL, May 16 /PRNewswire-FirstCall/ - Campbell Resources Inc. (TSX:
CCH, OTC Bulletin Board: CBLRF) ("Campbell") is pleased to announce that it
intends to complete a non-brokered private placement (the "Private Placement")
of up to 20,833,334 flow-through common shares priced at $0.12 per
flow-through common share, for total proceeds of up to $2,500,000. Campbell
intends to pay a cash commission of 6% of the total proceeds of the Private
Placement.
The closing of the private placement is scheduled for May 22, 2008 or such
other time as Campbell may determine, but no later than June 12, 2008. All
securities issued pursuant to the Private Placement will be subject to a four
month hold period. The Private Placement is subject to approval by the Toronto
Stock Exchange.
Campbell intends to continue its exploration program on the Corner Bay
property and other properties it owns in the Chibougamau area.
Campbell is a mining company focusing mainly in the Chibougamau region of
Quebec, holding interests in gold and gold-copper exploration and mining
properties.
Certain information contained in this release contains "Forward-Looking
Statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and is subject to certain risks 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. 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 price which affect the
profitability and mineral reserves and resources of Campbell. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Campbell undertakes no obligation to
release publicly any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect unanticipated
events or developments.
SOURCE CAMPBELL RESOURCES INC.