Canuc Resources Corporation (TSXV:CDA) (“Canuc” or the “Company”) announces that it has closed a non-brokered private placement financing with gross proceeds of $1,105,000 resulting in the issue of 4,420,000 units (“Units”) at a price of $0.25 per Unit.
Each Unit consists of one common share (“Common Share”) of Canuc and one-half of one warrant to purchase one Common Share. Each whole warrant (“Warrant”) entitles the holder to purchase one additional Common Share at a price of $0.40 per Common Share for two years from the closing date of the private placement.
The private placement is subject to final acceptance by the TSX Venture Exchange. 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 of this release.
Canuc is a junior resources company whose principal focus is exploration and development of the San Javier Silver-Gold Project located 146 km east of Hermosillo in Sonora State, Mexico. The company also generates cash flow from natural gas production in Central West Texas, where Canuc has an interest in nine producing gas wells, and has rights for further in field developments.
For further information please contact Canuc Resources Corporation:
Disclaimer and Forward-Looking Statements
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company’s annual financial statements and MD&A.