Cairo Resources Inc.
TSX VENTURE : QAI.H

April 20, 2016 14:50 ET

Cairo Undertakes Up to C$500,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 20, 2016) -

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Cairo Resources Inc. (TSX VENTURE:QAI.H) (the "Company") announces its intention to carry out a non-brokered private placement of up to 3,333,333 common shares at a price of C$0.15 per common share for gross proceeds to the Company of up to C$500,000 (the "Offering").

The Company will apply the net proceeds of the Offering to general working capital purposes.

All securities issued under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

Closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

The Company further announces that Darren Devine has resigned as a Director of the Company. The current board is now comprised of Darryl Cardey, Paul Reynolds and Michael Sadhra.

ON BEHALF OF THE BOARD OF CAIRO RESOURCES INC.

Darryl Cardey, President & Chief Executive Officer

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 Information

  • Cairo Resources Inc.
    Darryl Cardey
    President and CEO
    604-638-8063
    604-648-8105 (FAX)