Canasil Closes $708,750 Over-Subscribed Non-Brokered Private Placement and Receives $102,000 from Warrant Exercise for Total $810,750
Suite 1760 – 750 West Pender Street
Vancouver, BC V6C 2T8
Canada
Tel: 604-708 3788
Fax: 604-708 3728
Email: [email protected]
NEWS RELEASE TSX-V: CLZ
November 26, 2021 www.canasil.com
Canasil Closes $708,750 Over-Subscribed Non-Brokered Private Placement
and Receives $102,000 from Warrant Exercise for Total $810,750
Vancouver, Nov. 26 2021 - Canasil Resources Inc. (TSX-V: CLZ , DB Frankfurt: 3CC , “Canasil” or the
“Company”) announces closing of a non-brokered private placement (the “Placement”) of 4,350,000
Units at $0.125 per Unit for $543,750 , and 1,100,000 Flow Through (“FT”) Shares at $0.15 per FT Share
for $165,000, for total proceeds of $708,750 effective November 15 and 25, 2021 . The Placement was
initially announced for $500,000 and subsequently increased to $650,000 through news releases dated
Oct. 19 and Oct. 22, 2021. The closing of the Placement is subject to final acceptance by the TSX Venture
Exchange. The securities issued in conne ction with the Placement are subject to hold periods expiring
four months and one day after the date of issuance . Finder’s fee s of 6% for a total of $19,350 are
payable on part of the proceeds of the Placement.
The 4,350,000 Units consist of one common share of the Company and one half of one non-transferable
share purchase warrant . Each whole warrant (a “Warrant”) will be exercisable to purchase one
additional common share of the Company at a price of $0. 20 during the first year, increasing to $0.25 in
year two following the closing of the offering.
The Company has also received $102,000 from the exercise of 850,000 Warrants at $0.12 per W arrant.
Of the total proceeds of $810,750 received, $645,750 will be used for drill programs on the Company’s
silver-gold projects in Durango and Zacatecas States, Mexico, and for working capital, and the $165,000
FT portion will be used to fu nd qualifying exploration programs on the C ompany’s copper-gold projects
in British Columbia, Canada.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-
copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico , and in British Columbia,
Canada. The Company’s directors and management include industry professionals with a track record of
identifying and advancing successful mineral exploration projects through to discovery and further
development. The Company is actively engaged in the exploration of its mineral properties, and
maintains an operating subsidiary in Durango, Mexico, with full time geological and supp ort staff for its
operations in Mexico.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
Canasil Resources Inc.
News Release, Nov. 26, 2021 page 2/2
Neither 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 news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the
United States of America. The securities have not been and will not be registered under the United States Securities Act of 1 933
(the “1933 Act”) or any state securities laws an d may not be offered or sold within the United States or to , or for account or
benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state
securities laws, or an exemption from such registration requirements is available.