New Issue: Canoro Resources negotiates C$3.22 million private placement of stock

By Devika Patel

Knoxville, Tenn., April 19 - Canoro Resources Ltd. said it plans a C$3.22 million non-brokered private placement of stock.

The company will sell 24,798,000 common shares at C$0.13 apiece to Mass Financial Corp.

Proceeds will be used for working capital in conjunction with the exploration and development of the company's oil and gas projects.

Based in Calgary, Alta., Canoro is an oil and natural gas exploration and development company.

Issuer:	Canoro Resources Ltd.
Issue:	Common shares
Amount:	C$3,223,740
Shares:	24,798,000
Price:	C$0.13
Warrants:	No
Agent:	Non-brokered
Investor:	Mass Financial Corp.
Pricing date:	April 19
Stock symbol:	TSX Venture: CNS
Stock price:	C$0.135 at close April 16
Market capitalization:	C$14.8 million

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