Canuc Resources Corporation press release
Canuc Resources Corporation Raises $1,315,000 in a Private Placement Financing
TSXV - TSX Venture Exchange · Silver · Gold · Copper · Cobalt · Nickel · Rare Earth Elements · Natural Gas · Oil · Canada
Apr. 5, 2011 (Canada NewsWire Group) --
TSX Venture Exchange Symbol: CDA Shares Outstanding: 47,997,598
TORONTO, April 5 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") today announced that it has raised $1,315,000 in non-brokered private placement financing (the "Financing") with one strategic investor subscribing for $ 1.0 million dollars. The Company has issued 6,575,000 Units at $0.20 per Unit. Each Unit consists of one common share and one common share purchase warrant, each warrant exercisable at $0.25 for a period of 24 months. The common shares and warrants issued will be subject to a hold period of four-months and a day from the date of issue, in accordance with the policies of the TSXV and applicable securities laws. The Financing is subject to approval of TSXV.
A finder's fee of $ 36,000 was paid in connection with the Financing.
The proceeds of the financing will be used to fund the Company's upcoming exploration program in the province of Nova Scotia and for general corporate purposes.
The Company would also like to announce that Mr. Jim Stephenson and Mr. Bob Bondy have resigned from the Board of Directors. The Company thanks both Mr. Stephenson and Mr. Bondy for their years of service and wishes them the best in their future endeavours.
About Canuc
Canuc is a junior mining exploration company with its principal property located in Ecuador. Canuc also has an option on the Mill Village gold property located near Liverpool Nova Scotia.
_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._
| Gary Lohman, President & CEO | | | | | | Ken Murton, Chairman | | 416-867-1300 | | | | | | 416-920-2748 | | glohman@canucresources.ca | | | | | | kmurton@canucresources.ca |