Canasil Resources, Inc. (TSXV:CLZ) announced a non-brokered private placement of up to 5,000,000 units at CAD 0.20 per unit for gross proceeds of CAD 1,000,000 on November 20, 2012. A commission or finder's fee may be paid with respect to all or part of the transaction. Each unit will consist of one common share and one-half of one share purchase warrant. Each full warrant will entitle the holder to purchase one common share at CAD 0.30 within one year of closing. If the closing price company's shares equals or exceeds CAD 0.55 per share for a period of ten consecutive trading days following the closing, the company will have the right to accelerate the expiry date of the warrants by giving the warrant-holders at least 30 days' written notice.

On January 11, 2013, Canasil Resources, Inc. closed the transaction. The company issued 2,103,782 flow-through shares at CAD 0.185 per share and 4,476,999 units at CAD 0.225 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share at CAD 0.225 for one year from closing. The shares and warrant shares are subject to a hold period of four months from the date of issue, 2,103,782 flow-through shares till April 28, 2013, 3,176,999 unit shares and warrant shares till May 5, 2013, and 1,300,000 unit shares and warrant shares till May 15, 2013. The final exercise date for 3,176,999 warrants will be January 4, 2014, and for 1,300,000 warrants January 15, 2014. The transaction saw participation from 14 placees. As part of the transaction, Jason Neal invested for 330,000 shares, Alvin Jackson from Greenspot Enterprises Ltd. invested for 133,333 shares, Arthur Freeze from Stillwater Enterprises Ltd. invested for 130,666 shares, Michael McInnis invested for 133,000 shares, Gary Nordin from Discovery Resource Corp. invested for 130,000 shares, Andrew Mickelson invested for 350,000 shares, Cindy Lewis invested for 350,000 shares, James Nagy invested for 250,000 shares and Christine Harman invested for 350,000 shares. The company also paid finders fees of CAD 31,136 to Marquest Asset Management, CAD 24,000 to Global Market Development and CAD 3,000 to Dundee Securities Inc.