Non-brokered Private Placement increased to $750,000
April 28, 2006
Vancouver, April 28, 2006 - Canasil Resources Inc. (Canasil, TSXV: CLZ) announces that, subject to regulatory approval, the non-brokered private placement of 2,500,000 units at an exercise price of $0.25 per unit, announced on April 20, 2006, has been increased to up to 3,000,000 units for total proceeds of up to $750,000. All other terms and conditions remain the same.
Each unit will consist of one common share of the Company and one share purchase warrant (a “Warrant”); each Warrant will entitle the holder to purchase one common share of the Company at $0.35 within one year from closing. If, beginning six months following the closing of the private placement, the closing price of the Company’s shares equals or exceeds $0.75 per share for a period of ten consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving the Warrant-holders at least 30 days’ written notice. There are no commissions or finders’ fees associated with this placement.
About Canasil:
Canasil is a Canadian mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas States, Mexico. The Company’s directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of mineral properties and evaluating additional acquisition opportunities.
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the content of this news release.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109