Business
Canuc Resources Corporation Enters into Definitive Agreement with Santa Rosa Silver Mining
Toronto, Ontario--(Newsfile Corp. - August 8, 2016) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") and Santa Rosa Silver Mining Corp. ("Sa
About this update from Canuc Resources Corporation
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - August 8, 2016) - Canuc Resources Corporation (TSXV: CDA) (\"Canuc\" or the \"Company\") and Santa Rosa Silver Mining Corp. (\"Santa Rosa\") are pleased to announce that they have entered into a business combination agreement (the \"Definitive Agreement\") dated August 8th, 2016 to combine Canuc and Santa Rosa by way of an amalgamation of Santa Rosa and a wholly-owned subsidiary of Canuc, to form one company as a wholly-owned subsidiary of Canuc (the \"Transaction\"). The Transaction is subject to a number of terms and conditions as set forth in the Definitive Agreement, including (among other things) the approval of the TSX Venture Exchange (the \"TSXV\" or the \"Exchange\"). If completed, the Transaction will constitute a reverse take-over transaction (as such term is defined in TSXV policies). About Santa Rosa Santa Rosa through Minera Stramin S. de R.L. de C.V., its 99.97% owned subsidiary, holds or is entitled to acquire contiguous mineral concessions located in the State of Sonora, Mexico. Some of the claims cover mine workings and were subject of historical artisanal mining operations primarily for silver. About Canuc Canuc is a junior resources company engaged in the exploration and development of mineral properties in North and South America. In addition, the company is active in the development of a natural gas field in Central West Texas where it has an interest in seven producing gas wells. These wells generate a sustainable cash-flow with the potential to increase income by the drilling and completion of additional wells. For Further Information: Hub Mockler, Chairman & CEO416-867-1300 Forward-Looking Statements This 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 Transaction will not be successfully completed for any reason (including the failure...