Crystal Lake closes $700,000 1st tranche of financing

May 22, 2018

2018-05-18 09:06 ET – News Release

An anonymous director reports

CRYSTAL LAKE MINING CLOSES FIRST TRANCHE OF $1 MILLION FINANCING

Crystal Lake Mining Corp. 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-million Crystal 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 Venture Exchange.

About Crystal Lake Mining Corp.

Crystal Lake Mining is a Canada-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulphide deposits using technical excellence in exploration target development.

We seek Safe Harbor.

https://www.crystallakeminingcorp.com/news/