Canuc Resources Corporation Closes $235,000 in a Private Placement Financing

TSX Venture Exchange
Symbol: CDA
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.

About Canuc

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 this release.

SOURCE Canuc Resources Corporation

For further information:

Gary Lohman, President & CEO

Hubert Mockler, Executive Vice Chairman

Profil de l'entreprise

Canuc Resources Corporation

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