VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2012) -
NOT FOR DISTRIBUTION IN THE UNITED STATES
CADAN RESOURCES CORPORATION (TSX VENTURE:CXD)(FRANKFURT:RFU1) ("Cadan" or the "Company") Pursuant its previously announced non-brokered private placement the Company has closed the final tranche consisting of 6,161,334 Units. On a combined basis the Company will have issued a total of 32,059,829 units for gross proceeds of $4,808,974.35.
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 December 7, 2014 and at a price of $0.25 until December 7, 2014.
Finder's shares in the amount of 1,320,240 were issued to a finder in connection to the closing of the final tranche of the placement.
For further information visit our website at www.cadanresources.com; email us at email@example.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.