Sunset Cove Announces Non-Brokered Private Placement of up to $500,000

    




 TORONTO, Aug. 30, 2012 /CNW Telbec/ - Sunset Cove Mining   (BVL: SSM) ("SUNSET COVE" or the "Corporation"), announces that it will  be proceeding with a non-brokered private placement of up to $500,000  comprised of up to 4,761,905 units at a price of CAD $0.105 per unit  (the "Units"). 

 Each Unit consists of one (1) common share and one-half (1/2) share  purchase warrant.  One whole warrant provides the holder with the right  to purchase one (1) additional share for $0.18 per Share. The warrants  expire in 18 months from the closing and are subject to an  "Acceleration Right" in favor of the Corporation. Should the shares of  the Company close at $0.25 or higher for five (5) consecutive days, the  expiry of the warrants will accelerate and expiry will be twenty (20)  days from issuance of a news release by the Corporation announcing the  trigger of the acceleration right. 

 A finder's fee of 7% cash and 7% Finder's Warrants will be paid to  certain arm's length parties. The Finder Warrants expire eighteen (18)  months from the closing.  The Finder's Warrants are not subject to the  Acceleration Right. 

 It is anticipated that management and directors will be participating in  this private placement.  The capital raised will be used for general  working capital for the Corporation's operations in Peru and Canada. 

 Forward-Looking Statements 

 Some of the statements contained herein may be forward-looking  statements that involve known and unknown risks and uncertainties.  Results presented in this press release are exploratory in nature.  Historical data, if mentioned, should not be relied upon, as they are  not admissible under NI 43-101 rules and the Company has not conducted  sufficient testing to verify this type of information.  Without  limitation, statements regarding potential mineralization and  resources, exploration results, and future plans and objectives of the  Company are forward-looking statements that involve various degrees of  risk. The following are important factors that could cause the  Company's actual results to differ materially from those expressed or  implied by such forward-looking statements: changes in the world-wide  price of mineral commodities, general market conditions, risks inherent  in mineral exploration, risks associated with development, construction  and mining operations, the uncertainty of future profitability, and the  uncertainty of access to additional capital. Sunset Cove disclaims any  obligation to update any such forward-looking statements. 

 Neither 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. 

SUNSET COVE MINING INC.


CONTACT:  Lorne WoodsPresidentSunset Cove Mining(877) 234-0692; ext [e-mail] 


    

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