Momentum Public Relations
Press Release: December 28, 2018
Crystal Lake Mining Corp. has closed the final tranche of a non-brokered private placement, raising total gross proceeds of $744,350 in three tranches.
Crystal Lake issued 370,000 units in the third tranche at a price of 30 cents per unit for gross hard-dollar proceeds of $111,000. Each unit consisted of one common share in the capital of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one share of the company for a period of 12 months from the closing of the offering at an exercise price of 45 cents per share.
Finders’ fees for the third tranche may be payable to qualified parties while all securities will be subject to a four-month hold period from the closing date. This private placement is subject to the approval of the TSX Venture Exchange.
As disclosed in the company’s news releases Dec. 21, 2018, and Dec. 18, 2018, Crystal Lake issued a total of 1,809,572 flow-through shares at a price of 35 cents per share in the first two tranches of this financing to raise total flow-through proceeds of $633,350.
The non-flow-through-unit proceeds are for general corporate purposes, while the flow-through funds will be used to advance the company’s projects in northwest British Columbia and Northwest Ontario.
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 sulphide deposits and other deposit types using technical excellence in exploration target development.
We seek Safe Harbor.