Canasil Receives Final Court Order for Spin-off of B.C. Properties to Canmine Minerals Inc.
Suite 1760 – 750 West Pender Street
Vancouver, BC
Canada V6C 2T8
Tel: 604-708 3788
Fax: 604-708 3728
Email: [email protected]
NEWS RELEASE TSX-V: CLZ
December 22, 2017 www.canasil.com
Canasil Receives Final Court Order for Spin-off of B.C. Properties to Canmine Minerals Inc.
Vancouver, December 22, 2017 - Canasil Resources In c. ( TSX-V: CLZ , DB Frankfurt: 3CC, “Canasil” or the
“Company”) announces that the Company has received the Final C ourt Order approving the Plan of
Arrangement (the “Arrangement”) to segregate its Br itish Columbia properties into a separate company,
Canmine Minerals Inc. (“Canmine”). The Arrangement was earlier approved at a Special Meeting of
Shareholders held on December 12, 2017.
The Directors of Canasil and Canmine will now be in a position to proceed with the arrangements for
meeting the initial listing requirements for the li sting of Canmine on the TSX Venture Exchange (“the
“Exchange”), and will determine the timing for the remaining steps for the completion of the Arrangement.
The remaining steps, in sequence and at the times d etermined by the Canasil Directors and the Canmine
Directors, required for the completion of the Arran gement are: determination of the Share Distribution
Record Date, the Effective Date and the mailing of the certificates for the Distributed Canmine Shares . The
determination of the timing of the steps will be ma de on the basis of all applicable factors, includin g
general market conditions for junior resource compa nies and the availability of financing to enable
Canmine to satisfy the Initial Listing Requirements of the Exchange. Notice of the Share Distribution Record
Date and Effective Date will be given to the Compan y Shareholders through press releases. The Boards o f
Directors of the Company and Canmine will determine the exact Effective Date depending on when all the
conditions for the completion of the Arrangement ar e satisfied. The arrangement will only be finalized and
take effect after the necessary approvals have been obtained from the Exchange providing for the listi ng of
Canmine shares.
Shareholders of Canasil will receive shares of Canm ine in proportion to their shareholdings of Canasil , and
Canasil will continue to hold its Mexican assets. The consideration for the transfer of the BC Proper ties will
be based on the issuance of common shares of Canmine, the majority of which will be distributed to Canasil
shareholders based on one share of Canmine for each two shares of Canasil held. Warrant holders and
Option holders of Canasil will receive warrants or options of Canmine which are proportionate to, and
commensurate with the terms of, their existing Canasil warrants or options.
Complete details of the proposed transaction have b een set out in the Information Circular mailed to
shareholders on November 17, 2017, which is also av ailable on SEDAR ( www.sedar.com ) and on the
Company’s website ( www.canasil.com ).
About Canasil:
Canasil is a Canadian mineral exploration company w ith a strong portfolio of 100% owned silver-gold-
copper-lead-zinc projects in Durango and Zacatecas S tates, Mexico, and in British Columbia, Canada. The
Company’s directors and management include industry professionals with a track record of identifying a nd
advancing successful mineral exploration projects t hrough to discovery and further development. The
Company is actively engaged in the exploration of i ts mineral properties, and maintains an operating
subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.
Canasil Resources Inc.
News Release, December 22, 2017 page 2/2
For further information please contact:
Bahman Yamini
President & CEO
Canasil Resources Inc.
Tel: 604-709 0109
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 release includes certain statements that may b e deemed to be “forward-looking statements”. All st atements in
this release, other than statements of historical f acts are forward looking statements, including stat ements that
address future mineral production, reserve potentia l, exploration drilling, exploitation activities an d events or
developments. These statements involve known and un known risks, uncertainties and other factors that m ay cause
actual results or events to differ materially from those anticipated in such forward-looking statement s. Although the
Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statem ents. Factors that could cause actual results to di ffer materially
from those in forward-looking statements include, b ut are not limited to, changes in commodities price s, exploration
successes, continued availability of capital and fi nancing, and general economic, market or business c onditions. The
reader is referred to the Company’s filings with th e Canadian securities regulators for disclosure reg arding these and
other risk factors. There is no certainty that any forward-looking statement will come to pass and inv estors should not
place undue reliance upon forward-looking statements.