CADAN RESOURCES CORPORATION ("CXD")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: January 6, 2012
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 9, 2011:
Convertible Notes: $2,500,000
Conversion Price: Convertible into units consisting of one common share and one common share purchase warrant at $0.20 of principal outstanding.
Maturity date: 12 months from date of issuance. The convertible notes will automatically convert upon the Company listing on the Australian Securities Exchange.
Warrants Each warrant will have a term of 21 months from the date of issuance of the notes and entitle the holder to purchase one common share at a price of $0.20.
Interest rate: 10% per annum
Number of Placees: 20 placees
Finder's Fee: $117,900 payable to Azure Capital Limited
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]
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