Crown Minerals Announces $300,000 Non-Brokered Private Placement
Crown Minerals Inc. announce a proposed non-brokered private placement of up to 2,500,000 units at a price of $0.12 per unit (the “Offering”), for aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one share purchase warrant, each such warrant entitling the holder to purchase one common share for $0.18 at any time within 18 months. All securities issued pursuant to this private placement will be subject to a four (4) month hold period. Completion of the private placement is subject to receipt of all required regulatory and other approvals. The Company reserves the right to increase or decrease the size of the Offering.
The gross proceeds from the Offering will be used to fund exploration programs and operating costs including those in connection with the Company’s recently acquired gold properties in Whitney and Deloro Townships near Timmins, Ontario and on Mackenzie Island near Red Lake, Ontario.
For further information please contact: Mr. Stephen Dunn, President and a Director of Crown Minerals Inc., by telephone: 416-822-3343 or by mail: 130 Adelaide Street West, Suite 2700, Toronto, Ontario M5H 3P5.