Proceeds to fund exploration program and general corporate purposes
By Devika Patel
Knoxville, Tenn., April 5 - Canuc Resources Corp. said it completed a C$1.32 million non-brokered private placement of units at C$0.20 each.
Canuc sold 6,575,000 units of a common share and one warrant.
Each whole warrant is exercisable at C$0.25 for two years. The strike price reflects a 25% premium to the April 4 closing share price of C$0.20.
Proceeds will be used for the company's upcoming exploration program in Nova Scotia and general corporate purposes.
Toronto-based Canuc is a gold and diamond mining company.
| Issuer: | Canuc Resources Corp.
|
| Issue: | Units of a common share and one warrant
|
| Amount: | C$1,315,000
|
| Units: | 6,575,000
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agents: | Non-brokered
|
| Settlement date: | April 5
|
| Stock symbol: | TSX Venture: CDA
|
| Stock price: | C$0.21 at close April 5
|
| Market capitalization: | C$9.03 million
|
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