David Tice ... participated in the Private Placement
Canyon Resources Completes $1.85 Million Private Placement Financing
GOLDEN, Colo., Jan. 10 /CNW/ -- Canyon Resources Corporation
(Amex: CAU), a Colorado-based mining company, today announced that it has
completed a Private Placement financing in which it has raised
$1,850,500 through the sale of 2,127,016 unregistered shares of common stock
at $0.87/share. The financing was undertaken to provide funds to expand the
future production from the Briggs Mine in California and to continue the
Company's effort to overturn the anti-mining initiative affecting the
10 million ounce gold assets of the McDonald and Seven-Up Pete deposits in
Montana, as well as general corporate purposes.
David Tice's Prudent Bear Fund, the Tocqueville Gold Fund, managed by John
Hathaway, several other investment funds, as well as private investors,
participated in the Private Placement. The Company has undertaken to file a
S-3 Registration Statement with the Securities and Exchange Commission to
register the potential resale of the shares issued in the Private Placement.
This press release does not constitute an offer of any such securities for
sale. This financing brings the number of outstanding shares of Canyon
Resources' common stock to 16,547,338.
"Canyon Resources is pleased to welcome new shareholders and the
continuing endorsement of existing shareholders with this financing," said
Richard H. De Voto, President.
geoshares.com
Tice hit a homerun woth this, Canyon has rocked since ...
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