November 6, 2012
Can-Cal Resources Ltd. (“Can-Cal” or the “Company”) Trading Symbol: NASDAQ OTCBB – “CCRE” is pleased to report continued progress on the Company’s ongoing strategic projects especially in the following areas:
In the Spring of this year, the Company partnered with the University of Nevada, Las Vegas (“UNLV”) to explore and evaluate Can-Cal’s Wikieup, Arizona properties (the “Wikieup/UNLV Project” or the “Project”). The main objectives of the Project were twofold:
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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