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BREAKING: Mota Ventures Signs Letter of Intent for Merger with Stillcanna

  • Stillcanna looks to become one of the largest producers of THC-free CBD extracts in Europe
  • Stillcanna's Polish extraction facility, NEXUS, features industrial-scale centrifugal chromatography equipment that allows for the production of bulk THC-free CBD distillate as well as custom Cannabinoid profiles
  • In February 2020, Stillcanna's Romanian extraction facility, ORIGIN, which operates pursuant to a joint venture between Stillcanna and Dragonfly Biosciences Ltd., received approval from the Ministry of Health and the Anti-Drug Agency to become the first government recognized extraction facility in the country
  • To date C$23,000,000 has been invested by Stillcanna in the cultivation and extraction operations,
  • Current cash on hand in Stillcanna of approximately C$7,000,000
  • Stillcanna's CBD extracts are key to unlocking additional value in Mota's retail offerings in Europe
  • Shareholders of Stillcanna would receive one common share of Mota for every 1.8 common shares of Stillcanna held at the time of exchange

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Message: Second Tranche of Non-Brokered Private Placement Completed

Second Tranche of Non-Brokered Private Placement Completed

posted on May 21, 2009 01:12PM
May 21, 2009
Cadan Resources Corporation: Second Tranche of Non-Brokered Private Placement Completed
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CADAN RESOURCES CORPORATION (the "Company") (TSX VENTURE:CNF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement originally announced on February 12, 2009. The Company sold 3,556,667 common shares in the capital of the Company ("Shares") in the second tranche at a price of $0.06 per Share for gross proceeds of $213,400. The Company sold in both tranches a total of 15,635,982 Shares for gross proceeds of $938,159.

All securities issued pursuant to the second tranche bear a four month hold period expiring on September 22, 2009.

The gross proceeds from the private placement will be used to advance development of the T'Boli gold-silver deposit and detailed exploration of surrounding area, further drilling and leaching analysis of the Tagpura-Kalamatan porphyry copper-gold property and to provide the Company with additional working capital.

On behalf of the board of directors,

Brett Taylor, President & CEO
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