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CYRR was SKHR ...

Jan. 31, 2005 the trading symbol for the company has changed from SKHR to CYRR


Publish Date : 9/16/2005 6:34:00 PM

Canary Resources Inc. ("Canary"), a coalbed methane (CBM) company, announces that it has closed a private placement for gross proceeds of US$7,250,000. Investors in this placement include a leading European institution. Funds raised from the placement will be used for drilling and development of CBM in the Eastern Forest City Basin in Kansas and Missouri, and for general working capital purposes.

The placement comprises 18,125,000 new Class A zero-dividend convertible preferred shares which are convertible into 18,125,000 common shares of Canary, and 9,062,500 warrants, each of which permit the holder to purchase a common share of Canary for $1.00 for four years, and carry mandatory exercise provisions if Canary common shares trade above $2.00.