Cavan Ventures Inc.

Cavan Ventures Inc.

December 09, 2009 21:08 ET

Cavan Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2009) - Cavan Ventures Inc. (the "Company") (TSX VENTURE:CVN) is a public mineral exploration company based in Vancouver, British Columbia trading on the TSX Venture under the symbol, CVN. The Company has arranged a non-brokered private placement for up to an amount of $250,000 to "accredited investors" in Canada. Cavan intends to issue up to 1,250,000 units at a price of $0.20 per unit. Each of the units will consist of one common share, plus one half non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.30 per share for a period of two years.

The net proceeds of this non-brokered private placement will be used for the general corporate working capital. In connection with the non-brokered private placement, Cavan may pay commissions and finders' fees to registered persons and others in an amount equal to 8% of the proceeds from the sale of the units plus broker warrants of 10% of the proceeds from the sale of the units, exercisable at $0.30 per share for two years.

The common shares, and warrants comprised in the units will be subject to a four-month "hold period" from the date of closing under the policies of the TSX Venture Exchange and applicable securities legislation.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan Ventures Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

On behalf of the Board of Directors:

Ming Chiang, President & CEO

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.

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