Crystal Lake Closes Second Tranche Of Non-Brokered Private PlacementDecember 21, 2018
December 21, 2018, Vancouver, British Columbia – Crystal Lake Mining Corporation (the “Company” or “Crystal Lake”) is pleased to announce that it has completed a second tranche closing of a non-brokered private placement of 381,000 flow-through common shares issued at a price of 35 cents per flow-through share, raising gross proceeds of $133,350. The first tranche closed on December 20, 2018, raising gross proceeds of $500,000.20 through the issuance of 1,428,572 flow-through shares. The total gross proceeds raised in both tranches is $633,350.20.
The Company paid finder’s fees of 7% cash and 7% finder’s warrants to Raymond James Ltd. All securities issued are subject to a four-month hold period from the closing date.
The Company confirms that it is proceeding with its unit financing. Each unit consists of one common share at 30 cents per share and one-half of one common share purchase warrant, with each full warrant exercisable at 45 cents for a period of one year.
The non-flow-through and flow-through private placements are subject to the approval of the TSX Venture Exchange.
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 and other deposit types using technical excellence in exploration target development.
On behalf of The Board of Directors of Crystal Lake Mining Corporation,
Richard Savage, President & CEO
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. 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.