Canasil Closes $1,565,500 Over-subscribed Non-brokered Private Placement To Fund Drill Programs on Mexican Silver-Gold Projects

Canasil_04082020

Vancouver, August 4, 2020 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces closing of a non-brokered private placement (the “Placement”) of 7,827,500 units (the “Units”) at a price of $0.20 per Unit for total gross proceeds of $1,565,500. The Placement was initially announced for $1,000,000 on July 17, 2020, and subsequently increased to $1,500,000 through announcements on July 21 and July 22, 2020. The closing of the Placement is subject to final acceptance by the TSX Venture Exchange. The securities issuable in connection with the private placement are subject to a hold period expiring four months and one day after the date of issuance. A finder’s fee of 6% for $21,900 is payable on part of the proceeds of the Placement.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s