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Press Releases

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April 18, 2011 Top

LAS VEGAS, NEVADA - (April 18, 2012) Can-Cal Resources Ltd. (“Can-Cal”) (Trading Symbol: NASDAQ OTCBB – “CCRE”) ) 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.

The combined proceeds from all four tranches of the private placement totaled US$601,774 with proceeds being allocated as follows: i) Exploration and development, and project work-out commissioning of Can-Cal’s current properties; ii) to update and complete all corporate governance, audit and management financial statements, and Canadian and U.S. securities commission's regulatory requirements; and iii) strategic working capital requirements.

Finders acting in connection with the second tranche of the private placement are entitled to receive aggregate fees of $4,200 and 70,000 Common Shares.

Mr. G. Michael Hogan, CEO of Can-Cal stated “With completion of this private placement, Management has been able to overhaul and complete all of the necessary corporate governance requirements necessary for a public company, and to commence the examination of the existing Can-Cal properties, which is key to building a successful mining company, and subsequently creating solid shareholder value.”

Can-Cal is also pleased to announce that Mr. Ron Schinnour, of Calgary, Alberta, Canada has been appointed to the Board of Directors. Mr. Schinnour has held countless executive, leadership and management roles in the agricultural industry, both domestically and globally. This has included positions with Monsanto, United Agri Products and Agrium (Cominco). He recently moved back to Calgary and joined the UFA, holding the position of Executive VP of Agri Business. Mr. Schinnour’s expertise in Strategic Planning, Financial Management, International Business and M&A Leadership has been instrumental for the business success and growth of his current and previous companies. Mr. Schinnour holds an MBA from Washington University with special recognition for Excellence in Team Process, Strategic Planning and Finance. He also holds a CMA Designation from the University of Calgary/Society of Management Accountants. Mr. Schinnour currently serves on the Board of Directors of FoodChek Systems Inc. (Calgary) and Universal Co-op Ltd. (Minneapolis). He has previously served as the Chairman and Director for RAPID & AEC, and on the Board of Directors for the Latin America Agricultural Development Bank, AgroBio & the Agricultural Future of America. He has been President, Treasurer and Director of numerous corporate entities at Monsanto and UAP.

Mr. Schinnour stated, , “This is an exciting opportunity to join a company that is in the process of re-defining it’s future. With the current asset base and the reinvigoration that is taking place in the leadership of the business, the company is at a critical point for setting it’s strategic direction for the coming years.”

Mr. William J. Hogan, ICD.D, Chairman of Can-Cal, stated “Mr. Schinnour brings significant in-depth financial literacy and M&A expertise, which will be invaluable to the Corporation’s governance process. With Ron’s high level background in business acumen, the Corporation should quickly begin to realize big dividends towards increasing shareholder upside.”

January 31, 2011 Top

LAS VEGAS, NEVADA - (January 31, 2012) Can-Cal Resources Ltd. (“Can-Cal”) (Trading Symbol: NASDAQ OTCBB – “CCRE”) is pleased to announce the completion of a Mineral Lease Agreement (the “Mineral Lease”) with GoodCorp Inc. (“GoodCorp”), a Los Angeles, California based private company. The Mineral Lease gives GoodCorp the right to extract and process surface material from Can-Cal’s Pisgah, California property (the “Pisgah Material”).

GoodCorp’s Mineral Lease allows for the removal of up to 100,000 tons of Pisgah Material per year at an average cost of $11.00 per ton giving Can-Cal the potential of US$1.1 Million annual revenue. The Mineral Lease requires GoodCorp to bear all costs of extraction of the Pisgah Material. The Mineral Lease also entitles GoodCorp to remove additional Pisgah Material, excluding certain defined precious metals, subject to approval by both parties. There is a segregated stock pile of crushed Pisgah Material estimated at 3.5 million tons immediately available; and the remaining raw surface Pisgah Material, which has not been formally delineated, is conservatively estimated at 15.0 million tons. The term of the Mineral Lease is for 10 years, with an additional five year term, at GoodCorp’s option.

Mr. Joseph Lenthen, President of GoodCorp stated “We are pleased to have come to a successful arrangement with Can-Cal. The Pisgah Material represents an abundant amount of assessable raw material for our development process and look forward to a long and fruitful relationship with Can-Cal. ”

Mr. Michael Hogan, CEO of Can-Cal stated “The GoodCorp Mineral Lease marks a long awaited milestone in our corporate turn-a-round program for Can-Cal. We look forward to a strong and viable relationship with GoodCorp for many years. ”

Can-Cal is also pleased to announce that Mr. Thompson MacDonald, ICD.D, of Calgary, Alberta, Canada has been reappointed to the Board of Directors. Mr. MacDonald had previously been appointed to the Board on June 4th, 2009 but resigned November 13, 2009 in order to complete outside business commitments. Mr. MacDonald has an extensive background in Corporate Governance serving on public, private and not for profit boards. He has served as Chairman of Walton Global Investments, an Alberta land assembly and development company; and as Chairman of ENMAX, an Alberta based Electric Utility. Mr. MacDonald is a Director of FoodChek Systems Inc., a Calgary, Alberta food safety pathogen testing company, where he is Chairman of the Corporate Governance and Compensation Committee.

Mr. MacDonald stated, “The Company now appears to have reached a pivotal stage in its efforts to reestablish itself as a viable mining entity. I look forward to contributing to Can-Cal’s strategic plan of achieving its goals and objectives.”

Mr. William J. Hogan, ICD.D, Chairman of Can-Cal, said “We are delighted with the return of Mr. MacDonald to the Board. His significant background and business skills will bode well in the areas of governance and operational direction and will add to the extent and know-how that management will need to deliver shareholder value.”

August 10, 2011 Top

LAS VEGAS, NEVADA - (August 11, 2011) Can-Cal Resources Ltd. (“Can-Cal”) (Trading Symbol: NASDAQ OTCBB – “CCRE”) announced today that it has completed the third tranche of its previously announced non-brokered private placement of Units for aggregate gross proceeds of US$225,275. Can-Cal issued a total of 3,754,584 Units at a price of US$0.06 per Unit. 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 an exercise price of US$0.08 per share until August 10, 2013.

The use of proceeds will include but not be limited to: i) complete work-up of the 2 potential extraction processes that have currently been presented to determine which process will be used to potentially prove up any precious metals, platinum groups elements and/or other base metals on the Pisgah, California property and the Wikieup, Arizona property; ii) to conduct a drill program to potentially prove up the potential tonnages and subsequently any precious metals and/or other base metals on the Wikieup, Arizona property; iii) to determine and engage a qualified and comprehensive US and Canadian investor relations and shareholder communications group; and iv) strategic working capital reserve.

Finders acting in connection with the second tranche of the private placement are entitled to receive aggregate fees of $4,060 and 111,291 Common Shares.

Top June 11, 2010

LAS VEGAS, NEVADA, USA Can-Cal Resources Ltd. (“Can-Cal”) (Trading Symbol: NASDAQ OTCBB – “CCRE”) is pleased to announce a non-brokered US$1.0 Million Convertible Debenture private placement. The Debentures are unsecured and mature three years after the date of issue. The principal amount of the Debentures shall accrue interest at a rate of 12% per annum, compounded and payable quarterly. The principal amount (excluding interest) shall be convertible in whole or in part at any time at the option of the holder until the maturity date at a conversion price of US$0.25 per common share.

In the event that the 15 day volume weighted average trading price of the Corporation’s common shares on the OTC Bulletin Board is at least US$0.40, the Corporation has the right to require the holder of the Debentures to convert the Debentures at the conversion price of US$0.25 per common share upon 5 days prior written notice given by the Corporation to the holder at any time during the term of the Debentures.

The use of proceeds will include but not limited to, i) complete work-up of the 3 potential extraction processes that have currently been presented to determine which process will be used to potentially prove up any precious metals, platinum groups elements and/or other base metals on the Pisgah, California property and the Wikieup, Arizona property; ii) to conduct a drill program to potentially prove up the potential tonnages and subsequently any precious metals and/or other base metals on the Wikieup, Arizona property; iii) to conduct a comprehensive research and development program to ascertain the potential for any rare earth elements on the Owl Canyon, California property; iv) to determine and engage a qualified and comprehensive US and Canadian investor relations and shareholder communications group; and v) strategic working capital reserve.

First closing will occur on June 18, 2010, or such other earlier or later date or dates as determined by the Corporation, upon completion and execution of the Subscription Agreement and payment of the aggregate subscription price for the Debentures subscribed for. There is no minimum amount for the Offering and the Corporation reserves the right to accept any subscription and close on that subscription at any time, with subscription funds being immediately released to the Corporation at closing.

Top February 9, 2010

LAS VEGAS, NEVADA - (February 19, 2010) Can-Cal Resources Ltd. (“Can-Cal”) (OTCBB: CCRE) Further to a press release dated May 28, 2009 disclosing a non-brokered private placement of $350,000. Can-Cal is pleased to announce that it has completed the fourth and final tranche of a non-brokered private placement of 1,144,000 units (“Units”) at a price of US$0.1 25 per Unit for gross proceeds of US$143,000. Each Unit consists of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one Common Share at US$0.15 per share until March 31, 2011. Combined proceeds from all four tranches of the private placement totaling US$370,825 will be used for exploration and development of Can-Cal’s current properties including ongoing laboratory methodology processing and metallurgy testing in relation to precious metal extraction from Can¬-Cal’s Pisgah and Wikieup properties, to rescind certain shares as per the requirements of the BCSC in relation to the partial revocation of the CTO, and for general working capital requirements.

Top November 13, 2009

LAS VEGAS, NEVADA - (November 13, 2009) Can-Cal Resources Ltd. (“Can-Cal”) (OTCBB: CCRE) announces the resignation of Mr. Thompson MacDonald as director of the Corporation effective November 13, 2009. Mr. MacDonald has resigned to pursue other interests. The Corporation would like to thank Mr. MacDonald for his contribution to Can-Cal since his appointment to the Board.

June 30, 2009 Top

LAS VEGAS, NEVADA - (June 30, 2009) Can-Cal Resources Ltd. (“Can-Cal”) (OTCBB: CCRE) Further to press release dated May 28, 2009, Can-Cal is pleased to announce that it has completed a second tranche of non-brokered private placement of 600,000 units (“Units”) at a price of US$0.125 per Unit for gross proceeds of US$75,000. Each Unit consists of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one Common Share at US$0.15 per share until March 31, 2011. Combined proceeds from both tranches of the private placement totalling $195,950 will be used for exploration and development of Can-Cal’s current properties including ongoing laboratory methodology processing and metallurgy testing in relation to precious metal extraction from Can-Cal’s Pisgah and Wikieup properties, to rescind certain shares as per the requirements of the BCSC in relation to the partial revocation of the CTO, and for general working capital requirements.

April 28, 2009 Top

LAS VEGAS, NEVADA - (April 28, 2009) Can-Cal Resources Ltd. (“Can-Cal”) (OTCBB: CCRE) Can-Cal Announces Partial Revocation of BCSC Cease Trade Order, US$350,000 Financing and Shares for Debt Settlement Can-Cal Resources Ltd. (“Can-Cal”) (OTCBB: CCRE) is pleased to announce the following developments:

Partial Revocation of Cease Trade Order

The cease trade order (“CTO”) issued by the British Columbia Securities Commission (the “BCSC”) on February 4, 2008 has been partially revoked effective April 24, 2009. Other than certain securities which will be rescinded by Can-Cal pursuant to requirements of the BCSC, all other securities of Can-Cal are no longer subject to the CTO.

Private Placement

Can-Cal has received commitments to complete a non-brokered private placement of up to 2,800,000 units at a price of US$0.125 per unit for gross proceeds of up to US$350,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at US$0.15 per share until March 31, 2011. Proceeds of the private placement will be used for exploration and development of Can-Cal’s current properties including ongoing laboratory methodology processing and metallurgy testing in relation to precious metal extraction from Can-Cal’s Pisgah property, to rescind certain shares as per the requirements of the BCSC in relation to the partial revocation of the CTO, and general working capital. Closing of the private placement is anticipated to occur on or about May 15, 2009. The securities issued pursuant to the private placement will be subject to a 4 month hold period from the date of issuance.

Shares for Debt Settlement

Concurrent with the closing of the private placement, Can-Cal intends to settle approximately US$369,500 of outstanding indebtedness through the issuance of units of Can-Cal. The units will have a deemed issuance price of $0.125 per unit. US$317,500 of the units will consist of one common share and one common share purchase warrant with each warrant being exercisable into one common share at US$0.15 per share until March 31, 2011, and US$52,000 of the units will consist of one common share and two common share purchase warrants with each warrant being exercisable into one common share at US$0.15 per share until March 31, 2011.


About GoodCorp
GoodCorp is a privately held Corporation founded in 2007 with an office located in Los Angeles, CA. The Company's fundamental business is the production of environmentally safe products.

About Can-Cal
Can-Cal is an emerging precious metals exploration and chemical extraction company actively engaged in identifying commercial mining opportunities. Can-Cal is currently focusing its efforts on three main properties: PISGAH, California; WIKIEUP and CERBAT, Arizona. Can-Cal is a publicly listed and trading company on the NASDAQ O.T.C. Bulletin Board (Symbol: CCRE).

FOR FURTHER INFORMATION PLEASE CONTACT:

G. Michael Hogan, Chief Executive Officer Can-Cal Resources Ltd.
8205 Aqua Spray Avenue
Las Vegas, Nevada 89128
Tel: (702) 243-1849
Fax: (702) 243-1869

GoodCorp, Inc.
Mr. Joseph Lenthen
715 Sunset Blvd. Ste 100
Los Angeles, CA 90046
Tel: (323) 285-5552
Fax: (323) 285-5643

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors and assumptions that should be considered is contained in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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