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Canasil Resources

Non-brokered Private Placement to raise up to $1,000,000
URL: http://canasil.com/news_releases/2007/index.php?content_id=47&page_number=1

Content was created on: November 28, 2003

Vancouver, November 26, 2003 - Canasil Resources Inc. (Canasil, TSXV: CLZ) is pleased to announce a non-brokered private placement of up to 4,000,000 Units at a price of $0.25 per Unit for gross proceeds of up to $1,000,000. Each unit will consist of one common share and one-half share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.35 per share for a period of one year following the closing date.

The proceeds of this placement will be used to fund the planned exploration program at the Tres Marias and Cebollas projects in Durango, Mexico, for acquisition of additional gold/silver properties in Mexico which are currently under review, and for general working capital.

Completion of the private placement is subject to approval by the TSX Venture Exchange. Finder’s fees will be paid on the placement in accordance with the Exchange guidelines.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
 

For further information please contact:

 

Mr. Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
www.canasil.com