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Canuc Receives Final Approval for Acquisition and Provides Drilling Update
Toronto, Ontario--(Newsfile Corp. - November 2, 2018) - Canuc Resources Corporation (TSXV: CDA...
About this update from Canuc Resources Corporation
[{"type":"text","content":"Canuc Receives Final Approval for Acquisition and Provides Drilling UpdateToronto, Ontario--(Newsfile Corp. - November 2, 2018) - Canuc Resources Corporation (TSXV: CDA) (\"Canuc\" or the \"Company\") is pleased to announce that it has received final approval from the TSX Venture Exchange (the \"Exchange\") for the previously announced acquisition of Full Circle Energy Ltd. (\"Full Circle\"). On October 31st, 2018 the Company received a letter from the Exchange granting final approval for the acquisition. The Company has caused a wholly-owned subsidiary to amalgamate with Full Circle. The amalgamated entity will continue to operate under the name Full Circle Energy Ltd. Canuc has issued 11,810,000 Canuc common shares to the shareholders of Full Circle as consideration for the transaction, which has a deemed value of $974,325. The Company is pleased to announce the conclusion of drilling and casing for the first well (15-34) which was drilled to a total depth of 1,524 meters. More information relating to results and interpretation for this well will be provided in an upcoming technical release. About CanucCanuc is a junior resources company exploring the San Javier Silver-Gold Project in Sonora State, Mexico. The Company generates cash flow from natural gas production in Central West Texas, where Canuc has an interest in nine producing gas wells and has rights for further in field developments. The Company also owns six sections of undeveloped prospective oil acreage in southwest Saskatchewan and has rights to a Farmin, and an Area of Mutual Interest (AMI), for a further 6.3 contiguous sections of land. For further information please contact Canuc Resources Corporation:(416) 548 - [email protected] and Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of applicable securities laws relating to the Transaction, including statements regarding the terms and conditions of the Transaction. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the parties will not proceed with the Transaction, that the ultimate terms of the Transaction will differ from those currently contemplated, and that the Tr...