VANCOUVER, BC TheNewswire / September 22, 2015 - CADAN RESOURCES CORPORATION ("Cadan" or the "Company") is pleased to announce that it has issued a total of $2,402,232 in convertible notes in two series, as part of a refinance of convertible notes that expired in December of 2014 and July of 2015.
A total of $809,506 of the convertible notes are convertible into common shares of the Company at a price of $0.12 per share until December 1, 2015. Holders of these notes also received 6,745,884 warrants exercisable to acquire common shares of the Company at $0.12 per share until December 1, 2016.
A total of $1,592,726 of the convertible notes are convertible into common shares of the Company at a price of $0.10 per share until December 1, 2016. Holders of these notes also received 15,927,260 warrants exercisable to acquire common shares of the Company at $0.10 per share until July 1, 2017.
The above convertible notes bear interest at the rate of 12% per annum. The securities referred to above are subject to a hold period expiring in four months from the date of issuance.
For further information visit us at www.cadanresources.com; email us at info@cadanresources.com, or contact us at 604.778.1372.
On Behalf of the Board,
Peter Main
President
Neither the 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 release.
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