Vancouver, BC – Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has arranged a 2,000,000 unit flow-through financing with proceeds totaling $500,000. Each flow-through unit is priced at $0.25 cents per unit is comprised of one common share and one half of one common share purchase warrant, with each common share qualifying as a “flow-through share” as contemplated by the Income Tax Act. Each whole warrant is exercisable to acquire one non-flow through common share of the Company at a price of $0.30 per share for a period of 18 months following the closing date. Finder’s fees are payable to qualified parties.
The proceeds of this private placement will be used to advance exploration activities on the Company’s Emo, Ontario properties.
All securities issued are subject to a four-month hold period and subject to TSX approvals.
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.