InvestmentPitch.com Updates Cancana Resources (TSX.V - CNY) in Video Alert
(Thomson Reuters ONE) -
Vancouver, British Columbia, February 2, 2011 - InvestmentPitch.com, a
multimedia technology company, offering a combined solution for creating,
hosting and distributing financial video content has posted the latest video
"news alert", updating the activities of Cancana Resources (TSX.V - CNY).
If this link is not enabled, please visit www.investmentpitch.com and enter
"Cancana" in the search box.
Sola Resources has changed its name to Cancana Resources, and as of January
24, 2011 trades on the TSX Venture Exchange under the symbol CNY. The shares
were also consolidated, with each shareholder now holding one share of Cancana
for every ten shares of Sola they previously owned.
Prior to the share consolidation the Company had a total of 206,082,082 common
shares issued and outstanding assuming completion of the thirty percent (30%)
acquisition of Amazon Resources Limited. As a result of the share consolidation,
the Company will have approximately 20,608,208 shares issued and outstanding.
Cancana, an exploration stage company with assets in Brazil and Canada, has
primarily focused on diamond, manganese and gold resource properties. Recently
the company has been seeking projects that expand its resource base and provide
for near term production and revenue.
The company recently announced that it had signed a financial advisement
agreement with Vicarage Capital Limited, in London, England, with respect to
establishing a round of equity and debt financing in order to enable completion
of the financing requirements for both current projects and future
opportunities.
In November, the company entered into a Share Exchange Agreement to acquire
thirty percent (30%) of the common shares of Amazon Resources, with an option to
acquire up to one hundred percent (100%) on or before March 31, 2011. This
allows Cancana to establish a partnership with a producing diamond and gold
company in Brazil.
Amazon's Parauna alluvial diamond and gold project is located in the Minas
Gerais State of Brazil, north of the city of Belo Horizonte. It has produced
more than 2,070 carats of diamonds at an average price of US$250 per carat.
In December, the company signed a letter of intent with Madeira Ltda for a fifty
percent (50%) interest in Rio Madeira high-grade manganese project in Brazil.
Since 2008, Rio Madeira has mined and processed high-grade manganese at a rate
between 2,000 and 4,000 tonnes per month, selling the product to Brazilian
chemical and fertilizer producers for an average price of US$436 per tonne.
Please refer to the company's website www.solaresourcecorp.com for more
information on the company's properties.
CONTACT:
Cancana Resources Corp
403-269-2065
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1484840]
Unternehmensinformation / Kurzprofil:
Datum: 02.02.2011 - 18:39 Uhr
Sprache: Deutsch
News-ID 51003
Anzahl Zeichen: 3685
contact information:
Kategorie:
Business News
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