VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Nov. 5, 2012) - Cadan Resources Corporation (TSX VENTURE:CXD) (FRANKFURT:AOMZ25) ("Cadan" or the "Company") is pleased to announce that it has completed the sale of a further 2,109,661 units as part of its previously announced non-brokered private placement. The Company will close the sale of a further 13,158,339 units subscribed for by a single Singapore based investor upon completion of standard TSXV background checks, which the Company has been informed by the TSXV will take approximately three weeks to complete.
Each Unit consists of one common share in the capital of the Company and one share purchase warrant (the "warrants"). Each warrant is exercisable to acquire an additional common share for a period of 2 years at a price of $0.20 until October 31, 2012 and at a price of $0.25 until October 31, 2014.
On a combined basis, including subscriptions pending TSXV approval, the Company will have issued a total of 28,756,834 units for gross proceeds of $4,313,525.
For further information visit our website at www.cadanresources.com or email us at info@cadanresources.com.
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 or accuracy of this release.
Contact
Cadan Resources Corporation Robert Butchart, President / CEO butch.cadan@gmail.com
Cadan Resources Corporation John D. Anderson, Chairman janderson@cadanresources.com www.cadanresources.com
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