Cadan Resources Corporation

Cadan Resources Corporation

July 20, 2009 09:15 ET

Cadan Amended Private Placement, Increased to $2,500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2009) -


CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") announced today that it has amended the proposed private placement previously announced on July 7, 2009 to increase the gross proceeds from $1,500,000 to $2,500,000.

Subject to regulatory acceptance, the Company is arranging a non-brokered private placement consisting of up to 25,000,000 units of the Company ("Units") at a price of $0.10 per Unit for gross proceeds of up to $2,500,000. Each Unit will consist of one common share of the Company and half of one common share purchase warrant (each whole such warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one common share of the Company for a period of 24 months at a price of $0.15 per common share.

The gross proceeds from the private placement will be used to advance development of the T'Boli gold-silver deposit and detailed exploration of surrounding area, further drilling and leaching analysis of the Tagpura-Kalamatan porphyry copper-gold property and to provide the Company with additional working capital.

All securities issued in connection with this financing will be subject to a four-month hold period.

The Company may pay a finders' fee of up to 5% of the gross proceeds in connection with a portion of the financing. In addition, finders may also be granted non-transferable finders' warrants entitling the holder to purchase that number of shares equal to 10% of the number of Units sold at a price of $0.10 per share for a period of one year after closing.

On behalf of the board of directors,

Brett Taylor, President & CEO

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the closing of the proposed private placement and the anticipated business and financing plans of the Company. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at

Neither 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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