Symbol: TSX-V: CLM
VANCOUVER, May 25, 2018 /CNW/ - Crystal Lake Mining
Corporation (the "Company" or "Crystal Lake") is pleased to
report that the previously announced private placement of
May 18, 2018, has been
over-subscribed.
Subscriptions received for the second tranche of the
non-brokered, hard dollar private placement at 55 cents per unit totaled $473,000 (860,000 shares to be
issued). Final aggregate gross proceeds for this financing
with strategic investors came to $1,173,000 (2,132,727 shares in total).
Each unit of the Crystal Lake
private placement consisted 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