Canaco Resources Inc. and Tigray Resources Inc. announced that further to the spin-out transaction between Canaco and Tigray, Tigray has received conditional listing approval from the TSX Venture Exchange, subject to usual listing requirements.

Upon being listed, Tigray will file on or before the filing deadline the necessary election to become a public corporation effective from the beginning of its first taxation year.

Canaco President and CEO Andrew Lee Smith – also President and CEO of Tigray – said: "We are endeavouring to fulfill the listing requirements as quickly as possible in order to facilitate the trading of Tigray shares on the TSX-V. We believe Tigray represents an exciting opportunity for investors to gain exposure to the emerging mineral exploration sector in Ethiopia. Irrespective of the delay in the listing process, Tigray plans to immediately launch an 11,000-metre first phase drill program at the Harvest project."

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