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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2012) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company") is pleased to announce that it has commenced a Non-Brokered Private Placement up to a maximum of $1,000,000.
The Private Placement will be priced at $0.50 per Unit as allowed under the TSX Venture Exchange, ("TSXV"), Policy. Each unit consists of one common share and one non-transferable share purchase Warrant. Each Warrant is exercisable into one additional common share at $0.75 per share for 24 months from the date of Closing of the Private Placement. This placement, if fully subscribed, will result in the issuance of 2,000,000 Common Shares and 2,000,000 non-transferable Warrants. |
