Sola Resource Corp.

Sola Resource Corp.

January 21, 2011 09:21 ET

Sola Resource Corp. Changes Name to Cancana Resources Corp & Completes Share Consolidation

VICTORIA, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2011) - Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or "Sola") is pleased to announce that effective Monday January 24th, 2011, the Company will change its name to Cancana Resources Corp. as approved at its annual general and special meeting of shareholders held on December 16th, 2010. The common shares of the Company will commence trading on the TSX Venture Exchange under the symbol "CNY". 

Furthermore, the Company will complete a share consolidation of its share capital on the basis of one (1) post-consolidated common share for every ten (10) pre-consolidated common shares effective at 12:01 a.m. on January 24th, 2011 and file Articles of Amendment at that same time in connection with the share consolidation and name change. Management views are that the share consolidation will encourage more liquidity for the Company's common shares and will allow the Company greater opportunities for future financings. Prior to the share consolidation the Company has a total of 206,082,082 common shares issued and outstanding assuming completion of the thirty percent (30%) acquisition of Amazon Resources Limited. As a result of the share consolidation, the Company will have approximately a total of 20,608,208 common shares issued and outstanding.

The Company will commence trading on a consolidated basis under the new name and symbol at the market open on Monday, January 24th, 2011 as set out in the TSX Venture Exchange acceptance bulletin dated January 21st, 2011. 

Sola, an exploration stage company with assets in Brazil and Canada, has primarily focused on diamond, manganese and gold resource properties. Recently 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.

Sola continues to provide shareholders with Investor Updates, please ensure that you have already registered on the company website, if not please visit and input your name and email address on the home page.

Issued on behalf of the Board of Directors of Sola Resource 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.

Contact Information