Canoro Resources Ltd.
TSX VENTURE : CNS

Canoro Resources Ltd.

January 09, 2008 10:47 ET

Canoro Resources Ltd. Announces Exercise of Over-Allotment Option

CALGARY, ALBERTA--(Marketwire - Jan. 9, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE U.S.

Canoro Resources Ltd. (TSX VENTURE:CNS) is pleased to announce it issued today 1,525,500 common shares at a price of $1.70 per share pursuant to an over-allotment option granted to Cormark Securities Inc., CIBC World Markets Inc., Fraser Mackenzie Limited, Jennings Capital Inc. and Westwind Partners Inc. (the "Underwriters"). The over-allotment option was granted to the Underwriters in connection with the previously announced short form prospectus offering of 17,700,000 common shares closed December 20, 2007.

Canoro is a Canadian-based international oil and gas company operating in the Assam/Arakan basin of northeast India. Canoro is the operator of Amguri field with a 60% working interest. Canoro is the operator with a 65% working interest in the AA-ON/7 exploration block. Canoro also has a 15% nonoperated working interest in the AA-ONN 2003/2 exploration block. Common shares of Canoro trade on the TSX Venture Exchange under the symbol 'CNS'.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Common Shares will not and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Canoro Resources Ltd.
    Rob McInnis
    Vice President, Business Development and Corporate Affairs
    (403) 543-5748
    (403) 543-5740 (FAX)
    or
    Canoro Resources Ltd.
    700, 717 - 7th Ave SW
    Calgary, Alberta T2P 0Z3
    Website: www.canoro.com