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CADAN RESOURCES CORPORATION ("CXD")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: February 20, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 20, 2012, as amended January 4, 2013:
Convertible Debenture $4,460,700
Conversion Price: Convertible into 22,303,500 common share and 22,303,500 detachable
warrants
Maturity date: Six months from date of issuance for arm's length placees, twenty-four
months from date of issuance for insider and other non-arm's length
placees
Warrants Each warrant issued to arm's length placees will have a term of eighteen
months from the date of issuance of the notes and entitle the holder to
purchase one common share. Each warrant issued to insiders and other
non arm's length placees will have a term of twenty-four months from the
date of issuance of the notes and entitle the holder to purchase one
common share. All warrants are exercisable at the price of $0.20.
Interest rate: 12%
Number of Placees: 13 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P / Principal Amount
Doug Evans Y $995,600
Derick Sinclair Y $100,000
Finder's Fee: $192,000 payable to SC Strategy Consult AG (Bjorn Paffrath)
$55,650 payable to Platinum Prestige Limited (Henry Gordon)
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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