Vancouver, BC – Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has closed the $500,000 flow-through private placement announced on October 26, 2017 and referenced in a press release on November 27, 2017 and the $400,000 non-flow-through private placement announced on October 25, 2017, and referenced in press releases dated November 6, 2017 and November 27, 2017.
The Company has issued 2,000,000 flow-through units (“FT Units”) for gross proceeds of $500,000. Each FT Unit consists of one common issued at $0.25 per share and one-half common share purchase warrant (each whole share purchase warrant being a “Warrant”). Each Warrant may be exercised by the holder to purchase an additional common share at a price of $0.30 For 18 months from closing.
The Company has also issued 2,000,000 non-flow-through units (“NFT Units”) for gross proceeds of $400,000. Each NFT Unit consists of one common share issued at $0.20 per share and one common share purchase warrant (a “Warrant”). Each Warrant may be exercised by the holder to purchase an additional common share at a price of $0.25 For 18 months from closing.
The proceeds from the private placements will be used to advance exploration activities at the Company’s Canadian properties and for general working capital.
Finder’s fees of $4,200 and 21,000 Warrants were paid in connection with the NFT Unit issuances and $14,752.50 and 59,010 Warrants were paid in connection with the FT Unit issuances.
The NFT Units have a four-month hold period expiring on April 4, 2018 and the FT Units have a four-month hold period expiring on April 12, 2018.
About the Company
Crystal Lake Mining Corporation is a mineral exploration/Development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
On behalf of The Board of Directors of Crystal Lake Mining Corporation.
Alphonse Ruggiero, Director/CFO
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Crystal Lake Mining Corporation which may cause actual results, performance or achievements of Crystal Lake Mining Corporation on to be materially different from the results, performance or expectation implied by these forward looking statements.
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 press release, which has been prepared by management.
