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Message: Arranges a Non-Brokered Private Placement of Up to $2,000,000
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Arranges a Non-Brokered Private Placement of Up to $2,000,000

posted on Feb 13, 2009 04:43AM
February 13, 2009
Cadan Arranges a Non-Brokered Private Placement of Up to $2,000,000
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2009) -

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

CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") is please to announce that subject to regulatory acceptance, the Company is arranging a non-brokered private placement consisting of up to 33,333,333 common shares ("share") at a price of $0.06 per share for gross proceeds of up to $2,000,000.

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.

All securities issued in connection with this financing will be subject to a four-month hold period.

The Company may pay a finders' fee of up to 5% of the gross proceeds in connection with a portion of the financing. In addition, finders may also be granted non-transferable finders' warrants entitling the holder to purchase that number of shares equal to 10% of the shares sold at a price of $0.10 per share for a period of one year after closing.

On behalf of the board of directors,

Brett Taylor, President & CEO
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