Canasil Receives Final Acceptance for $407,000 Non-brokered Private Placement
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
March 24, 2020 www.canasil.com
Canasil Receives Final Acceptance for $407,000 Non-brokered Private Placement
Vancouver, March 24, 2020 - Canasil Resources Inc. (TSX-V: CLZ , DB Frankfurt: 3CC , “Canasil” or the
“Company”) announces that the TSX Venture Exchange has accepted for filing documentation with
respect to the non-brokered private placement of 5,085,000 units (the Units”) at a price of $0. 08 per
Unit for total gross proceeds of $ 407,000 announced on February 19, 2020. The securities issuable in
connection with the private placement are subject to a hold period expiring four months and one day
after the date of issuance: July 6, 2020, for the first tranche closed on March 5, 2020, and July 12, 2020,
for the second tranche closed on March 11, 2020 . A finder’s fee of 6% for $3,720 was paid on part of
the proceeds of the second tranche.
Each Unit consist s of one common share of the Company and one non-transferable share purchase
warrant. Each warrant (a “Warrant”) will entitle the purchase of one common share of the Company at a
price of $0. 12 within two years of closing . If, commencing after the fourth month after closing, the
closing price of the Company’s shares exceeds $ 0.25 per share for a period of 20 consecutive trading
days (the “Acceleration Trigger Date”), the Company will have the right to accelerate the expiry date of
the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release
announcing such acceleration within three trading days of the Acceleration Trigger Date.
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 mi neral 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 support 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, March 24, 2020 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 u nder the
United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and 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 reg istered under the 1933 Act and applicable state securities laws, or an exemption from such
registration requirements is available.