CDA Canuc Resources Corporation

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. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2011/18/c4541.html 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:glohman@canucresources.ca"glohman@canucresources.ca/a    /td td /td td /td td /td tda href="mailto:kmurton@canucresources.ca"kmurton@canucresources.ca/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: (647) 258-3311, (888) 258-3323/td td /td td /td td /td td /td/tr trtdFax: (416) 363-7977/td td /td td /td td /td td /td/tr trtda href="mailto:info@investor3.ca"info@investor3.ca/a/td/tr/table

Copyright