Press release from TheNewswire.ca
CANADA GAS ARRANGES NON-BROKERED PRIVATE PLACEMENT
Wednesday, February 23, 2011
CANADA GAS ARRANGES NON-BROKERED PRIVATE PLACEMENT13:05 EST Wednesday, February 23, 2011(via Thenewswire.ca) TSX.V: CJC FSE: YXEN OTC-BB: CJCFF Corporate Office: 520 - 700 West Pender Street Vancouver BC, Canada, V6C 1G8 Tel: 1 (604) 685-5851 Fax: 1 (604) 685-7349 Email: email@example.com Web: www.canadagas.ca Vancouver, British Columbia, Canada - February 23rd, 2011 - Canada Gas Corp. (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) ("Canada Gas" or the "Company") has arranged a private placement financing of up to 3.5 million units at a price of 65 cents per unit, for gross proceeds of up to $2,275,000 subject to TSX Venture Exchange approval. Each unit will consist of one common share of Canada Gas and one half of one share purchase warrant, each full warrant entitling the holder to purchase one additional common share of Canada Gas at a price of 90 cents per share, for a period of two year from the date of closing. If during the exercise period of the warrants the closing price of Canada Gas' shares is $1.25 per share or higher for 20 consecutive trading days, the company at management's discretion, may accelerate the expiry time of the warrants to 20 calendar days from the date written notice of same is provided to the holders. Finders' fees may be payable in connection with the offering. The proceeds of the offering will be used to conduct exploration activities on Canada Gas'Goeland rare earth property, Montviel carbonatite complex, Quebec and for working capital. 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 release. For more information on Canada Gas, please visit www.canadagas.ca or call 604.685.5851. All of the above is subject to TSX.V and regulatory acceptance. On Behalf of the Board, CANADA GAS CORP. "Chad McMillan" President & CEO Copyright (c) 2011 Thenewswire.ca - All rights reserved.