Canuc Resources Corporation Raises $798,600 in Private Placement Financings

TORONTO, March 18 /CNW/ -- 
TSX Venture Exchange
Symbol: CDA
Shares Outstanding: 47,997,598


TORONTO, March 18 /CNW/ - Canuc Resources Corporation ("Canuc" or the
 "Company") (TSXV: CDA) today announced that it has raised $745,600 in
 non-brokered private placement financing (the "Financing"). The Company
 has issued 3,728,000 Units at $0.20 per Unit. Each Unit consists of one
 common share and one common share purchase warrant, each warrant
 exercisable at $0.25 for a period of 24 months. The common shares and
 warrants issued will be subject to a hold period of four-months and a
 day from the date of issue, in accordance with the policies of the TSXV
 and applicable securities laws. The Financing is subject to approval of
 TSXV.


A commission of $2,400 and 12,000 broker's warrants (the "Broker's
 Warrants") was paid in connection with the Financing. Each Broker's
 Warrant entitles the holder to purchase one Unit at $0.20 for 24
 months.


The Company has also raised an additional $53,000 in a non-brokered
 flow-through financing (the "Flow-Through Financing"). The Company has
 issued 265,000 Flow-Through Units at $0.20 per Flow-Through Unit. Each
 Flow-Through Unit consists of one common share issued on a flow through
 basis and one common share purchase warrant, each warrant exercisable
 at $0.25 for a period of 18 months. All common shares and warrants
 issued in the Flow-Through Financing are subject to a hold period of
 four-months and a day from the date of issue, in accordance with the
 policies of the TSXV and applicable securities laws. The Flow-Through
 Financing is subject to approval of the TSXV.


A commission of $240 and 1,200 Broker's Warrants was paid in connection
 with the Flow-Through Financing.


Insiders have subscribed for an aggregate of 1,778,000 Units of the
 3,993,000 Units representing 45% of the Financing.


The proceeds of both financings will be used to fund the Company's
 upcoming exploration program in the province of Nova Scotia and for
 general corporate purposes.


About Canuc


Canuc is a junior mining exploration company with its principal property
 located in Ecuador. Canuc also has an option on the Mill Village gold
 property located near Liverpool Nova Scotia.


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 of this release. 


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table valign="top" border="0"trtdGary Lohman, President & CEO    /td td /td td /td td /td tdKen Murton, Chairman/td/tr trtd416-867-1300      /td td /td td /td td /td td416-920-2748/td/tr trtda href="mailto:[e-mail]"[e-mail]/a    /td td /td td /td td /td tda href="mailto:[e-mail]"[e-mail]/a/td/tr trtd /td td /td td /td td /td td /td/tr trtdbInvestor Cubed Inc.:/b/td td /td td /td td /td td /td/tr trtdTelephone: [phone], [phone]/td td /td td /td td /td td /td/tr trtdFax: [phone]/td td /td td /td td /td td /td/tr trtda href="mailto:[e-mail]"[e-mail]/a/td/tr/table

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