Symbol: TSX-V: CLM
VANCOUVER, May 18, 2018 /CNW/ - Crystal Lake Mining
Corporation (the "Company" or "Crystal Lake") is pleased to
announce that it 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-V.
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 using technical excellence
in exploration target development.
Forward-Looking Information
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.
On behalf of The Board of Directors
of Crystal Lake Mining Corporation.
Alphonse
Ruggiero, Director/CFO
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.
SOURCE Crystal Lake Mining Corporation
