Vancouver, BC – Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has arranged a non-brokered private placement of up to $700,000 by the issuance of 1.4 million units (the “Units”) at a price of $0.50 per Unit.
Each Unit will consist of one common share and one warrant. Each warrant will entitle the Subscriber to purchase an additional common share at a price of $0.50 cents for 24 months. All securities will be subject to a statutory hold period of 4-months from closing.
The proceeds will be used to advance the companies work program in Emo, Ontario as well as general working capital. A finder’s fee is payable to qualified recipients as permitted by the TSXV.
The Private Placement remains subject to regulatory approval.
The company has also announces that pursuant to the Company’s stock option plan, it has granted incentive stock options to its directors, officers, employees and consultants to purchase an aggregate of 600,000 common shares at an exercise price of $0.50 per share for up to two (2) years.
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.