CADAN RESOURCES CORPORATION ("CXD")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s, Remain Suspended
BULLETIN DATE: September 14, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced August 25, 2015:
Convertible Debenture *$809,506
**$1,814,152
Conversion Price: *Convertible into 6,745,884 units consisting of 6,745,884 common share and 6,745,884 common share purchase warrant at $0.12 of principal outstanding until December 1, 2015.
**Convertible into 18,141,520 units consisting of 18,141,520 common share and 18,141,520 common share purchase warrant at $0.10 of principal outstanding until December 1, 2016.
Maturity date: *December 1, 2015
**December 1, 2016
Warrants *Each warrant will have a term until December 1, 2016 and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.12.
**Each warrant will have a term until July 1, 2017 and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.10.
Interest rate: 12% per annum
Number of Placees: 13 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Dr. Corporate Services (Derick Sinclair) Y 933,690
Yuzheng Xie Y 7,539,130
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.
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