Stockwatch

Canasil Resources Inc
Symbol	CLZ
Shares Issued	109,294,122
Close 2020-07-23	C$ 0.235
Market Cap	C$ 25,684,119
Recent Sedar Documents

Canasil increases private placement to $1.5-million

2020-07-23 16:21 ET - News Release

Subject: canasil news release issued on July 22, 2020 for dissemination Word Document File: '\\doc\emailin\20200723 130804 Attachment 200722 Final News Release CLZ July 2020 PP Increased to $1500K.docx' Suite 1760 - 750 West Pender Street Vancouver, BC V6C 2T8 Canada Tel: 604-708 3788 Fax: 604-708 3728 Email: admin@canasil.com NEWS RELEASE TSX-V: CLZ July 22, 2020 www.canasil.com Canasil Non-Brokered Private Placement Oversubscribed, Increased from $1,250,000 to $1,500,000 Vancouver, July 22 2020 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") announces that the non-brokered private placement (the "Placement") which was increased on July 21, 2020, to up to 6,250,000 units (the Units") at a price of $0.20 per Unit for total gross proceeds of up to $1,250,000 is again oversubscribed. The Placement is increased to 7,500,000 units at $0.20 for gross proceeds of $1,500,000. All other terms are unchanged. A finder's fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange. The proceeds of the Placement will be used to fund expanded drill programs on the Company's silver-gold exploration projects in Mexico. Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a "Warrant") will be exercisable to purchase one additional common share of the Company at a price of $0.25 during the first year, increasing to $0.30 in year two following the closing of the offering. If, commencing after the fourth month after closing, the closing price of the Company's shares exceeds $0.50 per share for a period of 20 consecutive trading days (the "Acceleration Trigger Date"), the Company will have the right to accelerate the expiry date of the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date. About Canasil: Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico. For further information please contact: Bahman Yamini President and C.E.O. Canasil Resources Inc. Tel: (604) 709-0109 Email: byamini@canasil.com www.canasil.com Canasil Resources Inc. News Release, July 22, 2020 page 2/2 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. PDF Document File: Attachment 200722 Final News Release CLZ July 2020 PP Increased to $1500K.pdf Suite 1760 750 West Pender Street Vancouver, BC V6C 2T8 Canada Tel: 604-708 3788 Fax: 604-708 3728 Email: admin@canasil.com NEWS RELEASE TSX-V: CLZ July 22, 2020 www.canasil.com Canasil Non-Brokered Private Placement Oversubscribed, Increased from $1,250,000 to $1,500,000 Vancouver, July 22 2020 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") announces that the non-brokered private placement (the "Placement") which was increased on July 21, 2020, to up to 6,250,000 units (the Units") at a price of $0.20 per Unit for total gross proceeds of up to $1,250,000 is again oversubscribed. The Placement is increased to 7,500,000 units at $0.20 for gross proceeds of $1,500,000. All other terms are unchanged. A finder's fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange. The proceeds of the Placement will be used to fund expanded drill programs on the Company's silver-gold exploration projects in Mexico. Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a "Warrant") will be exercisable to purchase one additional common share of the Company at a price of $0.25 during the first year, increasing to $0.30 in year two following the closing of the offering. If, commencing after the fourth month after closing, the closing price of the Company's shares exceeds $0.50 per share for a period of 20 consecutive trading days (the "Acceleration Trigger Date"), the Company will have the right to accelerate the expiry date of the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date. About Canasil: Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold- copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico. For further information please contact: Bahman Yamini President and C.E.O. Canasil Resources Inc. Tel: (604) 709-0109 Email: byamini@canasil.com www.canasil.com Canasil Resources Inc. News Release, July 22, 2020 page 2/2 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.