VANCOUVER, July 19, 2013 /CNW/ - Crimson Bioenergy Ltd.
(TSX-V: CSN) is pleased to announce a non-brokered private
placement for up to 3,333,333 common shares of the Company at a
price of $0.03 per share to raise
gross proceeds of up to $100,000. The
Company intends to use the proceeds from the private placement to
immediately repay $75,000 in current
liabilities and the balance for general working capital purposes.
Crimson's Board of Directors has approved this transaction.
This private placement is subject to the
approval of the TSX Venture Exchange. All securities issued
pursuant to the private placement will be subject to a statutory
hold period of four months and one day.
Crimson Bioenergy Ltd.- has extensive management
expertise in the areas of forest management, forest ecosystem
restoration, energy crops and greenhouse gas offsets (carbon
credits). Crimson is pursuing the development of longer-term wood
fibre/carbon credit plantations that meet the terms of
"afforestation" under forest carbon offset programs. It also
is developing reforestation projects on under-utilized agricultural
lands for the expanding biomass energy market that involve short
rotation, high density hybrid poplar plantations, called 'energy
crops', with 3-to-10 year growth cycles.
Additional information on Crimson Bioenergy can be found at
www.sedar.com and on the corporate website at
www.crimsonbioenergy.com
William W. Carr, President
FORWARD LOOKING STATEMENTS: This press release
contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Generally,
forward-looking statements can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" ,"could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Crimson to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: risks relating to
Crimson's ability to raise sufficient financing to fund its
business plan, development and expansion activities, dependence on
existing management, financial activities, domestic and global
economic conditions, changes in federal or provincial income tax
laws, and market competition factors.
Although Crimson has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Crimson does not undertake
to update any forward-looking statements that are contained herein,
except in accordance with applicable
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 Crimson Bioenergy Ltd.