VICTORIA, BRITISH COLUMBIA--(Marketwire - June 6, 2012) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") announces today that trading in the Company's stock has been cease traded as of June 5, 2012.
Pursuant to the Alberta Securities Act, the Company has failed to file its Annual Audited Financial Statements, Management Discussion and Analysis and Certification of annual filings for the year ended January 31, 2012.
The Company's Board of Directors and management are working diligently with the Company's Auditors in order to complete the Annual Audited Financial Statements ("financial statements") and Management Discussion and Analysis ("MD&A"). Upon completion of the Financial Statements and MD&A, the Company will complete the requisite filing on SEDAR and will immediately apply for a Revocation Order from the Alberta Securities Commission and British Columbia Securities Commission, and file for a resumption of trading with the TSX Venture Exchange.
Cancana Resources Corp. is an exploration stage company that is transitioning into production with assets in Brazil and Canada. The Company has been seeking projects that expand its resource base and provide for near term production and revenue. All available resource reports and information on the Company's properties are located on the Company website.
Issued on behalf of the Board of Directors of Cancana Resources Corp.
Dr. William (Bill) Pfaffenberger CEO and Director
The information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbour.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.