Crystal Lake closes $1.17-million private placement
Momentum Public Relations
Press Release: May 28 2018
Crystal Lake Mining Corp.’s previously announced private placement of May 18, 2018, has been oversubscribed.
Subscriptions received for the second tranche of the non-brokered, hard-dollar private placement at 55 cents per unit totalled $473,000 (860,000 shares to be issued). Final aggregate gross proceeds for this financing with strategic investors came to $1,173,000 (2,132,727 shares in total).
Each unit of the Crystal Lake private placement consisted of one common share of the company and one full share purchase warrant. Each warrant entitles the subscriber to purchase an additional common share at a price of 70 cents for 24 months. All securities will be subject to a statutory hold period of four months from closing.
Proceeds of the financing, which remains subject to regulatory approval, will be used to further advance the company’s Nicobat project in Northwest Ontario and for general working capital purposes. A finder’s fee is payable to qualified recipients as permitted by the TSX Venture Exchange.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulfide deposits using technical excellence in exploration target development.
- Published in Crystal Lake Mining
Crystal Lake closes $700,000 1st tranche of financing
Crystal Lake Mining Corporation (the “Company” or “Crystal Lake”) is pleased to announce that it has closed the first tranche of a $1 million non-brokered private placement to strategic investors at 55 cents per unit for gross proceeds of $700,000. A total of 1,272,727 shares were issued to complete the first tranche. The second and final tranche of this “hard dollar” financing is expected to close next week.
Each unit of the $1 millionCrystal Lake private placement consists of one common share of the Company and one full share purchase warrant. Each warrant entitles the subscriber to purchase an additional common share at a price of 70 cents for 24 months. All securities will be subject to a statutory hold period of four months from closing.
Proceeds of the financing, which remains subject to regulatory approval, will be used to further advance the Company’s Nicobat Project in northwest Ontario and for general working capital purposes. A finder’s fee is payable to qualified recipients as permitted by the TSX-V.
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 using technical excellence in exploration target development.
Forward-Looking Information
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.
On behalf of The Board of Directors of Crystal Lake Mining Corporation.
Alphonse Ruggiero, Director/CFO
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.
SOURCE Crystal Lake Mining Corporation
View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/18/c3264.html
Contact:
MarketSmart Communications Inc., Tel: +1 (604) 261-4466, Toll free: 1-877- 261-4466, Email: info@marketsmart.ca; Momentum PR, Tel: +1 (514) 815-7473
- Published in Crystal Lake Mining, Uncategorized
Crystal Lake starts drilling at Nicobat
Momentum Public Relations
Press Release: March 21 2018
Diamond drilling has commenced at Crystal Lake Mining Corp.’s 100-per-cent-owned Nicobat project (nickel-cobalt-copper-precious metals) in the Rainy River district of Northwestern Ontario. In addition, the company has expanded its deep penetrating airborne electromagnetic survey from the originally planned 500 line kilometers to 850 line kilometers.
Richard Savage, Crystal Lake Mining CEO, stated: “The historic zone outlined at the Nico1 Property, combined with today’s new technologies and a much better understanding of nickel sulfide deposits, gives us confidence that we’re on track for a new discovery in this under-explored district. We’re continuing to develop our pipeline of exceptional nickel sulfide targets across the 50 sq. km project area, and we look forward to providing regular updates through Phase 1 of this program.”
The first two holes at the Nico1 Property will undercut the historic zone to targeted depths of at least 400 meters and are designed to explore beneath the near-surface disseminated and breccia style magmatic sulfide mineralization. The boreholes will provide an ideal geophysical platform for Lamontagne Geophysics’ borehole electromagnetic survey work to detect nearby conductive targets that may correspond to semi-massive and massive sulfides.
Qualified Person
The technical information in this news release has been reviewed and approved by Dr. Peter C. Lightfoot, P.Geo., and Dr. Elisabeth Ronacher, P.Geo., who are both Qualified Persons responsible for the scientific and technical information in this news release under National Instrument 43-101 standards. Certain technical information in this news release has previously been disclosed by Crystal Lake Mining in its public disclosure record. Readers should refer to Crystal Lake Mining’s full public disclosure record at www.sedar.com.
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 using technical excellence in exploration target development.
- Published in Crystal Lake Mining
Crystal Lake to start drilling at Nicobat
Momentum Public Relations
Press Release: March 15 2018
Crystal Lake Mining Corp.(CLM:V) has provided an update on its 100-per-cent-owned Nicobat project, where the company is developing a pipeline of highly prospective nickel sulphide targets. Recently expanded to cover 50 square kilometres in Northwestern Ontario’s Rainy River district, Nicobat features excellent infrastructure (road, rail and power access) and a historic nickel-copper-cobalt sulphide mineral zone defined by drilling more than four decades ago.
Highlights:
- Crews are mobilizing to commence drilling within the next seven days at Nico 1 on the western contact of the Dobie Intrusion (below and north of the historic zone);
- Lamontagne Geophysics Ltd. has been contracted to carry out surface and then borehole electromagnetic surveys upon completion of diamond drill holes at Nico;
- A deep penetrating EM survey will be flown by CGG Canada Services Ltd. over Crystal Lake’s claims including the Nico 1 and Nico 2 properties. The objective of the survey is to detect an electrically conductive signature of sulphide mineralization associated with mafic intrusive bodies and strong magnetic anomalies that may represent mafic-ultramafic intrusions under cover.
Crystal Lake Mining has assembled a proven geological and geophysical team to unlock the full potential of its Nicobat project which is being targeted for high-grade nickel, copper, cobalt and precious metal mineralization.
The Rainy River district is situated between major translithospheric faults, and the mafic-ultramafic intrusions in this region are prospective for magmatic sulphide mineralization.
The Nicobat project is near Emo, Ont., approximately 35 kilometres east of the Rainy River gold mine.
New website
Crystal Lake Mining invites investors to check out the company’s new website.
Qualified person
The technical information in this news release has been reviewed and approved by Dr. Peter C. Lightfoot, PGeo, and Dr. Elisabeth Ronacher, who are both qualified persons responsible for the scientific and technical information in this news release under National Instrument 43-101 standards. Certain technical information in this news release has previously been disclosed by Crystal Lake Mining in its public disclosure record. Readers should refer to Crystal Lake Mining’s full public disclosure record on SEDAR.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through new nickel-rich sulphide discoveries in the underexplored Rainy River district of Northern Ontario using technical excellence in exploration target development and technologies.
We seek Safe Harbor.
- Published in Crystal Lake Mining
Crystal Lake shareholders approve all matters at AGM
Momentum Public Relations
Press Release: February 1, 2018
Crystal Lake Mining Corp. has released the results of its annual general meeting of shareholders which was held on Jan. 31, 2018.
Richard Savage, John Meekison, Alphonse Ruggiero and Wally Boguski were re-elected to the board. All motions were approved by shareholders and the company’s shareholder rights plan was renewed. Mr. Savage will continue as chief executive officer and Mr. Ruggiero will continue as chief financial officer.
The company thanks shareholders for their continued support and look forward to an exciting year ahead.
About the company
Crystal Lake is a mineral exploration/development company with a focus on creating value through the exploration and development of the company’s Ontario mineral properties.
We seek Safe Harbor.
- Published in Crystal Lake Mining
Crystal Lake enters new deal for L1, L5 properties
Momentum Public Relations
News Release: January 30, 2018
Crystal Lake Mining Corp.(CLM:V) has entered into an agreement with Emerald Lake Development Corp. (ELD), which will create a more favourable path to 100-per-cent ownership of the L1 and L5 properties, both in the Chapple township, district of Rainy River. The L1/L5 agreement, which will supersede and replace all prior agreements concerning these properties, will allow the company to acquire a 100-per-cent interest in the properties on the terms fully disclosed in its most recent management’s discussion and analysis at Sept. 30, 2017. This may be viewed by visiting SEDAR.
The company’s new website is currently under construction and is expected to be operational shortly with up-to-date corporate and geological information.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its Ontario and B.C. mineral properties.
- Published in Crystal Lake Mining, Mining
PROPERTY ACQUISITION PROGRESS RESTATEMENT
Momentum Public Relations
Press Release: December 11, 2017
On Dec. 8, 2017, Crystal Lake Mining Corp. issued a property update and it wishes to add to and clarify several items contained therein.
The subject Emo, Ont., properties are specifically located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas.
The company has commissioned Ronacher McKenzie Geoscience to prepare an independent technical report in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects — on the properties.
All claim blocks are within 60 kilometres of each other. The target is Ni-Cu-PGE (nickel-copper-platinum-group-elements) mineralization, however, the exact geological characteristics of the claim blocks remain to be determined.
The geological content of this press release was reviewed by Dr. Elisabeth Ronacher, PhD, PGeo, a qualified person in accordance with in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
We seek Safe Harbor.
- Published in Crystal Lake Mining, Mining