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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (16143)	6/7/2016 11:07:51 AM
From: Andrew~	Read Replies (2) \| Respond to of 202424

CLZ-V Canasil Announces $2,400,000 Non-brokered Private Placement VANCOUVER, June 7, 2016 /CNW/ - Canasil Resources Inc. ( TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") announces a non-brokered private placement (the "Placement") of 7,500,000 units (the Units") at a price of $0.32 per Unit for total gross proceeds of $2,400,000. A finder's fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange. Each Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant. Each whole warrant (a "Warrant") will entitle the purchase of one common share of the Company at a price of $0.50 within two years of closing. If, commencing after the fourth month after closing, the closing price of the Company's shares exceeds $0.80 per share for a period of 20 consecutive trading days (the "Acceleration Trigger Date"), the Company will have the right to accelerate the expiry date of the Warrants to the 20th trading day after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date. The proceeds of the Placement will be used for continuing exploration programs on the Company's mineral exploration projects and for working capital. The Placement is expected to close by June 29, 2016. About Canasil: Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.