Vancouver, BC – Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has received subscriptions for 2,000,000 units (“Units”) totaling $400,000 pursuant to the non-brokered, non-flow through private placement announced on November 6, 2017. Each unit consists of one common share issued at $0.20 per share, and one common share purchase warrant (a “Warrant”). One Warrant may be exercised by the holder to purchase one additional common share at a price of $0.25 for 18-months from closing.
In addition, the Company has received subscriptions for 2,000,000 flow-through units (each a “FT Unit”) totaling $500,000 pursuant to the flow-through private placement announced on October 26, 2017. Each FTUnit consists of one flow-through common share issued at $0.25 per share, and one-half of one non-flow-through common share purchase warrant (each whole warrant being a “Warrant”). One Warrant may be exercised by the holder to purchase an additional non-flow-through common share at a price of $0.30 for 18-months from closing.
The proceeds of this private placement will be used to advance exploration activities at the Company’s Emo, Ontario properties and for general working capital.
Both the flow through and non-flow private placements were oversubscribed.
Finder’s fees are payable to qualified recipients at the rates allowable by the TSXV. All securities issued are subject to a four-month hold period and closing remains subject to TSXV approval.
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.