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Canasil $2,400,000 Non-brokered Private Placement Over-subscribed And Increased to $2,560,000
Canasil $2,400,000 Non-brokered Private Placement Over-subscribed And Increased to $2,560,...
About this update from Canasil Resources Inc.
[{"type":"text","content":"\n\n\n\nCanasil $2,400,000 Non-brokered Private Placement Over-subscribed And Increased to $2,560,000\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanasil $2,400,000 Non-brokered Private Placement Over-subscribed And Increased to $2,560,000\nCanada NewsWire\nVANCOUVER, June 20, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nVANCOUVER, June 20, 2016 /CNW/ - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, \"Canasil\" or the \"Company\") announces that the 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 announced on June 7, 2016, is over-subscribed. The placement has been increased to 8,000,000 Units for total gross proceeds of $2,560,000. 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. \n\nEach 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.\n\nThe 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.\n\nAbout Canasil:\n\nCanasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration...