The Company is currently focusing its efforts on the Pisgah, California property and the Wikieup, Arizona property. The Owl Canyon, California property is being held as a future designated drill target. The Cerbat, Arizona property is currently for sale.
Can-Cal is pleased to announce that it has increased the size of the previously announced US$500,000 non-brokered private placement to US$601,774 and completed the closing of the final tranche. The final tranche consisted of 3,108,314 units (“Units”) at a price of US$0.06 per Unit for gross proceeds of US$186,499. Each Unit consists of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one additional Common Share at US$0.08 per share until April 04, 2014.
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