| October 8, 2015 – Cadan Announces Private Placement | |
| | |
|
News Release
600 - 666 Burrard Street Vancouver, BC V6C 3P6
604-687-0760
Symbol: CXD-TSXV
NEWS RELEASE Frankfurt: RFU1
October 8, 2015 - Vancouver, British Columbia - Cadan Resources Corporation (TSXV: CXD) ('Cadan' or the 'Company') provided the following update on it financings.
Pursuant to the press release of July 20, 2015 the TSX- Venture Exchange has approved the issuance of the 13,200,000 units to a corner-stone investor for an investment of $660,000 in the Company's private placement. The Company will also issue 1,267,000 in finders Units.
The Company further intends to complete its private placement offering and raise up to an additional $2,000,000 in $0.05 in Units. The 40,000,000 Units will each consist of one Common Share and one Common Share purchase warrant which entitles the holder to purchase one additional Common Share for a period of 12 months from the date of closing at $0.10. This financing combined with the previously announced financing brings the aggregate totals of new monies raised to approximately $5.6 million. In addition the Company will settle
$1,299,778 in debt by issue 25,995,560 at $0.05 per Unit with the same terms as the private placement. This combined with the previous debt settlements and the refinancing of outstanding Convertible notes reduces the Company's debts by approximately $2.5 million.
The funds raised from the issuance of the Units will be used to continue with the recommencement of mining at its T'Boli mine and for general working capital. The Company will also continue negotiating with its creditors to reduce its debts by issuing additional Units.
Cadan remains committed to and is on track to recommence operations at its T'Boli project . Contact Details
Peter Main ph: +61 2 9449 1112 email: [email protected]
On Behalf of the Board, Peter Main
Interim President and CEO [email protected]
For further information visit our website at www.CadanResources.com; email us at [email protected] Phone: 604-687-0760 Fax: 604-608-5442
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
EXPLORATEUR |
CODE : CXD.V |
ISIN : CA12721D2032 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cadan Res. est une société d’exploration minière d'argent et d'or basée au Canada. Cadan Res. détient divers projets d'exploration aux Philippines. Ses principaux projets en exploration sont NORTH COMVAL, T'BOLI, TAGPURA-MAANGOB, KALAMATAN, CADAN, TAGPURA SKARN et BATOTO / TARALE aux Philippines. Cadan Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,9 millions (1,4 millions US$, 1,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 08 avril 2004 à 9,84 , et son plus bas niveau récent le 27 novembre 2015 à 0,03 . Cadan Res. possède 47 442 200 actions en circulation. |