Canasil $2,000,000 Non-brokered Private Placement
March 4, 2011
Each unit will consist of one common share of the Company and one-half of one share purchase warrant (a “Warrant”); each full Warrant will entitle the holder to purchase one common share of the Company at a price of $0.70 within one year of closing. If, beginning six months following the closing of the private placement, the closing price of the Company’s shares equals or exceeds $1.40 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.
The proceeds of the private placement will be used for continuing exploration programs on the Company’s mineral exploration projects and for working capital.
Canasil is a Canadian mineral exploration company with interests in precious and base metal projects in
For further information please contact:
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
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