Thu, November 29, 2012
Wed, November 28, 2012
Tue, November 27, 2012
Mon, November 26, 2012
[ Mon, Nov 26th 2012 ] - Market Wire
DPM Announces Board Change
[ Mon, Nov 26th 2012 ] - Market Wire
Tujuh Bukit Technical Report
Fri, November 23, 2012
Thu, November 22, 2012
Wed, November 21, 2012
Tue, November 20, 2012
[ Tue, Nov 20th 2012 ] - Market Wire
Bullfrog Gold Raises $1,075,000

Cadan Announces Private Placement


//stocks-investing.news-articles.net/content/2012/11/26/cadan-announces-private-placement.html
Published in Stocks and Investing on Monday, November 26th 2012 at 6:30 GMT by Market Wire   Print publication without navigation


November 26, 2012 09:15 ET

Cadan Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

CADAN RESOURCES CORPORATION (TSX VENTURE:CXD)(FRANKFURT:AOMZ25) ("Cadan" or the "Company") is pleased to announce that it is proposing to complete a private placement of up to 15,000,000 units of the Company at a price of $0.20 per unit for total proceeds of $3,000,000. Each Unit consists of one common share and one share purchase warrant of the Company. Each warrant is exercisable to acquire an additional common share for a period of 2 years from the closing date at a price of $0.27 per share.

The Company is also proposing to complete a further private placement of convertible debentures for gross proceeds of $1,500,000. The convertible debentures will be convertible into units of the Company at a price of $0.25 per unit, with each Unit consisting of one common share and one common share purchase warrant of the Company. Each warrant will entitle the holder to purchase one additional common share of the Company for a period of 12 months from the date the closing date at a price of $0.27 per share.

Closing of the private placements are subject to approval by the TSX Venture Exchange.

Net proceeds from the private placements will be used towards the repayment of the principal and interest payable on maturity of convertible notes due December 23, 2012 that remain outstanding and unconverted as at such date, for capital development programs relating to the Company's mining operations in the Philippines, and for working capital.

Neither the 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.




Publication Contributing Sources