Cadiscor Closes C$ 1 Million Flow-Trough Private Placement: Financial News

Cadiscor Closes C$ 1 Million Flow-Trough Private Placement
Tuesday October 30, 2007 2:13 pm ET

MONTREAL, QUEBEC--(MARKET WIRE)--Oct 30, 2007 -- Cadiscor Resources Inc. ("Cadiscor")(CDNX:CAO.V - News)(Frankfurt:DQN.F - News) is pleased to announce that it has closed through Becher McMahon Capital Markets Inc. (the "Agent") a brokered private placement for gross proceeds of C$ 1,000,000. A total of 1,000,000 Flow-Through Shares of Cadiscor at a price of $1.00 per share were issued.

This flow-through offering was made to accredited investors, within the meaning of National Instrument 45-106, residing in the Provinces of Ontario and Quebec, in reliance upon applicable exemptions from registration and prospectus requirements.

All the securities issued pursuant to the offering are subject to a hold period of four months from the date of closing. A cash commission equal to 8% of the gross proceeds, as well as broker warrants entitling the Agent to purchase, for a period of 18 months following the closing, 50,000 common shares, at a price of $1.00 per share, was paid by Cadiscor to the Agent.

The proceeds from this placement will be used by Cadiscor for eligible exploration expenses on its Discovery, Flordin, Florence and Cameron Shear Properties in Quebec.

Forward-Looking Statements

This press release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia, Ontario and Quebec, and in the 10-KSB annual report filed with the US Securities and Exchange Commission. The Company does not undertake to publicly revise or update any such statements on the basis of new Information, future events or any other event.

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