Castle Peak Announces Non-Brokered Private Placement Financing of up to $500,000

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[{"type":"text","content":"Castle Peak Announces Non-Brokered Private Placement Financing of up to $500,000VANCOUVER, BC / ACCESSWIRE / June 10, 2016 / Castle Peak Mining Ltd. (TSXV: CAP) (\"Castle Peak\" or the \"Company\"), is pleased to announce the terms of a non-brokered private placement offering units consisting of one common share of the Company and one common share purchase warrant of the Company (the \"Offering\") to raise gross proceeds of up to $500,000. Under the terms of the Offering, the Company intends to sell up to 16,666,667 units at $0.03 per common unit. The minimum amount of gross proceeds to be raised under the Offering is $300,000 or 10,000,000 units. Each unit will consist of one common share (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.05 for a period of 18 months from the closing date of the Offering.\nAssuming the minimum Offering, we expect to use the proceeds for target definition field work on gold anomalies of merit at the Akorade Project, for partial debt repayment, for evaluation of additional transactions and general working capital. If more than the minimum Offering amount is raised, additional funds will be used for proportional debt repayment and general working capital.\nA $100,000 portion of the Offering will be allocated for participation of existing shareholders of the Company who held Common Shares as of May 30, 2016 (the \"Record Date\") and who continue to hold such Common Shares as of the closing date, pursuant to the existing security holders prospectus exemption available under BC Instrument 45-534 -- Exemption from Prospectus Requirements for Certain Trades to Existing Securityholders and equivalent provisions of other applicable securities laws (the \"Existing Shareholder Exemption\") to residents in such jurisdictions where the use of such exemption is not prohibited. Investors relying on the Existing Shareholder Exemption will be required to represent in writing certain requirements of the Existing Shareholder Exemption, including that they were as of the Record Date and they continue to be as of the closing date a shareholder of the Company. The aggregate acquisition cost to an investor relying on the Existing Shareholder Exemption cannot exceed $15,000, unless that shareholder has ob...

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