Welcome to our dedicated page for Canuc Res news (Ticker: CNUCF), a resource for investors and traders seeking the latest updates and insights on Canuc Res stock.
Canuc Resources Corporation (CNUCF) delivers timely updates on its dual-focus operations spanning natural gas production and mineral exploration. This hub provides investors with comprehensive access to corporate developments, project milestones, and strategic initiatives across its Texas energy assets and Mexican mining prospects.
Track all official announcements including operational updates from the MidTex natural gas fields, exploration progress at the San Javier Silver-Gold Project, and corporate developments like the Macdonald Mines acquisition. Our curated feed ensures efficient monitoring of earnings reports, resource estimates, and strategic partnerships.
Key updates cover drilling results, production figures from active wells, exploration license updates, and technical reports on mineralized systems. The collection serves as a vital resource for understanding CNUCF's unique position in both conventional energy and critical minerals sectors.
Bookmark this page for direct access to primary source materials and unfiltered operational data. Combine regular checks with SEC filings and market disclosures for complete due diligence on this diversified resource company.
Canuc Resources (OTCQB: CNUCF) has completed the final tranche of its previously announced $3.2 million CAD private placement. The final tranche raised $930,000 CAD through the issuance of 9.3 million units at $0.10 per unit. Each unit includes one common share and one warrant, with warrants exercisable at $0.15 for two years. The proceeds will fund the acquisition of MacDonald Mines Exploration Ltd. and support development and exploration of the company's mineral assets. The closing is pending TSX Venture Exchange approval.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) has announced an extension of the final closing date for its previously announced non-brokered private placement financing. The new closing date has been set for May 21, 2025, extended from the earlier dates announced in multiple press releases from February to April 2025.
The proceeds from this financing will be allocated towards two main purposes: covering expenses related to the acquisition of MacDonald Mines Exploration and funding the exploration and development of both new and existing company assets. The completion of this private placement remains subject to TSX Venture Exchange approval.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) has completed the first tranche of its previously announced private placement financing, raising $2,270,000 through the issuance of 22,700,000 Units. Each Unit, priced at $0.10, comprises one common share and one warrant.
The warrants allow holders to purchase additional common shares at $0.15 each within two years of the final closing date. Securities are subject to a 4-month and one-day hold period. The funds will support the MacDonald Mines Exploration acquisition and development of new and existing exploration assets. The placement awaits final TSX Venture Exchange acceptance.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) and Macdonald Mines Exploration (TSXV: BMK) have provided supplemental information regarding their proposed acquisition transaction. The special meeting for Macdonald Mines shareholders is scheduled for March 31, 2025, at 10am (Vancouver time) to approve the statutory arrangement.
Key updates include clarification on CFO Fiona Fitzmaurice's termination pay of $120,000, which is only applicable upon completion of a 'change of control' transaction. The arrangement excludes 2,305,000 common shares held by companies controlled by Chris Berlet, Canuc's CEO, from voting tallies.
As a condition of the transaction, Canuc is required to complete a private placement financing of minimum $500,000. The company expects to raise between $2,200,000 and $3,200,000 through units priced at $0.10, consisting of one share and half a warrant exercisable at $0.15 for two years.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) has announced the terms of a non-brokered private placement financing, which is a condition of its Arrangement Agreement with MacDonald Mines Exploration.
The private placement details include:
- Minimum issuance of 5,000,000 Units up to 32,000,000 Units
- Unit price: $0.10
- Each Unit includes one common share and one purchase warrant
- Warrants exercisable at $0.15 per share for two years
- Minimum financing requirement: $500,000 CAD
The proceeds will support the completion of the proposed MacDonald Mines acquisition and development of the company's exploration and development assets.
Canuc Resources (CNUCF) has entered into a definitive arrangement agreement to acquire Macdonald Mines Exploration through a three-cornered amalgamation plan. Under the agreement, Canuc will issue 72,000,000 common shares to Macdonald Mines shareholders at an exchange ratio of 1.497 Canuc shares for each Macdonald Mines share.
Following the transaction, Macdonald Mines shareholders will hold approximately 30% of Canuc's outstanding shares, prior to a planned private placement financing. The agreement includes a break fee of $352,800 and requires various approvals, including shareholder approval, court approval, and TSX Venture Exchange approval. Canuc must also complete a minimum $500,000 private placement financing.
The shareholder meeting record date is set for February 19, 2025, requiring two-thirds approval from Macdonald Mines shareholders.
Canuc Resources has signed a letter of intent (LOI) to acquire all issued and outstanding shares of Macdonald Mines Exploration. The acquisition involves issuing 72,000,000 common shares of Canuc to Macdonald Mines shareholders, with the LOI valid until April 30, 2025. The transaction aims to expand Canuc's portfolio of iron-oxide-copper-gold (IOCG) exploration assets. Macdonald Mines' flagship SPJ Project spans 19,710 hectares near the Sudbury Mining Camp and includes the historical Scadding Gold Mine. The deal requires shareholder and regulatory approvals, including TSX Venture Exchange clearance.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) has successfully completed a repair and workover operation on the Coody-Morales Trac 3-3 natural gas well in Stephens County, West Texas. The well, producing from the Big Saline Formation since 2011, has generated $1.05M USD in gross revenue from an initial investment of $153K USD. After experiencing a production decline in early 2024, the workover has restored output to ~100 MCF/day for June and July 2024.
The company's subsidiary, MidTex Oil and Gas , owns 8 producing natural gas wells in the area with rights for further development. Two additional prospective zones, the Caddo Limestone (oil) and Strawn Sands (gas), have been identified for future production after the Big Saline Formation is depleted.
Canuc Resources (CNUCF) announced repair and workover operations on its natural gas wells in West Texas, managed by its subsidiary MidTex Oil and Gas. The Coody-Morales Trac 3-3 well, drilled in 2011 with a $153K USD cost, has generated $1.04M USD in revenue and produced 35,246 MCF of gas in 2023. Repairs aim to restore historical production rates. Future plans include testing two additional hydrocarbon zones, Caddo Limestone (oil) and Strawn Sands (gas), post-depletion of the Big Saline Formation. The operations target minimal shareholder dilution and project completion in 2-4 weeks.
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