December 28, 2018, Vancouver, B.C. – Crystal Lake Mining Corporation (the “Company” or “Crystal Lake”) is pleased to announce that it has closed the final tranche of a non-brokered private placement, raising total gross proceeds of $744,350 in three tranches.
Crystal Lake issued 370,000 units in the third tranche at a price of 30 cents per unit for gross hard dollar proceeds of $111,000. Each unit consisted of one common share in the capital of the Company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one share of the Company for a period of 12 months from the closing of the offering at an exercise price of 45 cents per share.
Finder’s fees for the third tranche may be payable to qualified parties while all securities will be subject to a four-month hold period from the closing date. This private placement is subject to the approval of the TSX Venture Exchange.
As disclosed in the Company’s news releases December 21, 2018, and December 18, 2018, Crystal Lake issued a total of 1,809,572 flow-through shares at a price of 35 cents per share in the first two tranches of this financing to raise total flow-through proceeds of $633,350.
The non-flow-through unit proceeds are for general corporate purposes while the flow-through funds will be used to advance the Company’s projects in Northwest British Columbia and Northwest Ontario.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulfide deposits and other deposit types using technical excellence in exploration target development.
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MarketSmart Communications Inc.
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On behalf of The Board of Directors of Crystal Lake Mining Corporation,
Richard Savage, President & CEO
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither 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 or accuracy of this release.