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.