LEASE COMMITMENTS

3 Months Ended

Apr. 30, 2012

LEASE COMMITMENTS [Text Block]

9. LEASE COMMITMENTS

Canal’s corporate headquarters are now located in the personal residence of its Chief Financial Officer.

There are no operating leases that have initial or remaining non-cancellable terms in excess of one year as of April 30, 2012. Accordingly, Canal has no future minimum payments due over the next five years.