DB Frank: 3CC
TSX-V: CLZ
Last: 0.03
Change: 0.00
Vol: 0

Overview

$100,000 WORKING CAPITAL FINANCING COMPLETED

January 8, 2003

Canasil Resources Inc. (TSX Venture Exchange CLZ) “Canasil” is pleased to announce the closing of the non-brokered private placement, announced on December 9, 2002, for total gross proceeds of $100,000 by way of issuance of 1,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one share purchase warrant exercisable for a one-year period at a price of $0.15.

The proceeds from the placement will be used for working capital. The TSX Venture Exchange has accepted the placement for filing.

About Canasil:

Canasil is a Canadian-based mining and mineral exploration company with a portfolio of precious metal properties in British Columbia, Canada. The management team is focused on enhancing shareholder value by identifying and implementing strategies to increase the value of the Company’s mineral properties through cost effective and responsible development.


For further information please contact:

Mr. Bahman Yamini

President and C.E.O.

Canasil Resource Inc.
604-709-0109
www.canasil.com


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Subscribe to our Newsletter