VANCOUVER, British Columbia, Sept. 15, 2017 (GLOBE NEWSWIRE) — CRYSTAL EXPLORATION INC. (the “Company” or “Crystal”) (TSX-V:CEI) (OTCQB:CYRTF) proposes to complete a non-brokered private placement financing of up to 4,166,666 units (“Units”) at a price of $0.12 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one (1) flow-through common share, and one-half (1/2) non flow-through common share purchase warrant. Each whole warrant will entitle the holder to purchase one (1) additional common share of the Company at an exercise price of $0.18 for a period of 12 months from the date of issue of the warrant. In the event that the common shares of the Company trade at a closing price greater than $0.36 per share for a period of 20 consecutive days, then the Company may deliver a notice to the warrant holders that they must exercise the warrants with the next 30 days, or the warrants will expire.
Proceeds from the private placement will be used for Canadian exploration expenditures to advance gold and diamond projects located in Nunavut, Canada.
All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the “TSXV”) and finder’s fees may be payable in accordance with the policies of the TSXV.
Shareholders seeking further information about participation in the Placement should contact the Company at the telephone number or email address below.
About Crystal Exploration Inc.
Crystal is a Canadian gold & diamond exploration company with its common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals, who have a track record of advancing exploration projects from grassroots through to production scenarios.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TELEPHONE: 604 260 6977