TSX Venture Exchange
Shares Outstanding: 55,612,598
TORONTO, June 7, 2011 /CNW/ - Canuc Resources Corporation ("Canuc" or
the "Company") today announced that it has closed $235,000 in a
non-brokered private placement financing (the "Financing"). The Company
has issued 940,000 Units at $0.25 per Unit. Each Unit consists of one
common share and one common share purchase warrant, each warrant
exercisable at $0.35 for the first 12 months and $0.45 for the
following 12 month period. The common shares and warrants issued will
be subject to a hold period of four-months and a day from the date of
issue, in accordance with the policies of the TSX Venture Exchange Inc.
(the "TSXV") and applicable securities laws. The Financing is subject
to approval of the TSXV.
A finder's fee of $14,800 cash and 59,200 broker warrants was paid in
connection with the Financing.
The proceeds of the financing will be used to fund the Company's
upcoming exploration program in the province of Nova Scotia and for
general corporate purposes.
Canuc is a junior mining exploration company with its principal
properties located in Ecuador and Nova Scotia. Canuc's main holding is
an approximate 85% interest in the Nambija Gold deposit located in
south-eastern Ecuador. According to records obtained from the Central
Bank of Ecuador, it is estimated that, to date, nearly 3 million ounces
of gold have been produced using the most primitive of mining and
milling recovery processes from the Nambija area.
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 of
SOURCE Canuc Resources Corporation
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