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Cypress Development Closes $1.1 Million Private Placement
VANCOUVER, British Columbia, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Compan
About this update from Century Lithium Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce it has closed a non-brokered private placement financing (the “Private Placement”) for total gross proceeds of $1,100,679.84. The Company has allotted and issued 6,114,888 units (the “Units”) at a price of $0.18 per Unit. Each Unit is comprised of one common share and one transferable warrant, with each warrant entitling the holder to purchase one additional common share of the Company for a period of up to twenty-four months at a price of $0.22. In addition, the Company has paid finder’s fees totaling $20,475 and issued an aggregate 113,750 finder’s warrants (the “Finders Warrants”) to arm’s-length parties. Each Finders Warrant is exercisable into one common share for a period of up to twenty-four months at a price of $0.22. Proceeds of the offering will finance the completion of a prefeasibility study (PFS) for Cypress’ Clayton Valley Lithium Project in Nevada and for general working capital purposes. The Private Placement is subject to TSX Venture Exchange approval and all securities issued will be subject to a hold period expiring December 8, 2019. About Cypress Development Corp.: Cypress Development Corp. is a publicly traded exploration company focused on developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier target that has the potential to impact the future supply of lithium for the fast-growing global lithium-ion battery market. To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com. CYPRESS DEVELOPMENT CORP. “Dr. Bill Willoughby” WILLIAM...