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Cancana Resources Corp Closes Private Placement And Announces Appointment Of President


Thursday, 31 Jan 2013 05:53pm EST 

Cancana Resources Corp announced that it has closed a non-brokered private placement of Units and is announcing the appointment of Andrew Male as President of the Company. Cancana announced that it has closed a non-brokered private placement offering (the Offering) for aggregate gross proceeds of $1,096,180. The Company issued an aggregate of 5,480,900 units (each a Unit), at a price of $0.20 per Unit. Each Unit consists of one common share of the Company (Common Share) and one common share purchase warrant (each a Warrant). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $0.25 until January 2015. Earlier the Company announced the closing of a private placement having raised aggregate gross proceeds in the amount of $932,632.40 through the issuance of an aggregate of 4,663,162 Units. The closing of January 31, 2013 Offering, together with the October, 2012 private placement, represents aggregate gross proceeds of $2,028,812.40 to the Company. The proceeds raised from the Offering will be used for general working capital. Cancana is also announced that, in conjunction with the financing, the Board of Directors of the Company has appointed Andrew Male, currently the Chief Executive Officer of Cancana, to the office of President of the Company. 

Company Quote

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10 Jul 2014