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Crystal Lake Announces Closing of Additional Tranches of Non-Brokered Private Placement
Crystal Lake Announces Closing of Additional Tranches of Non-Brokered Private Placement ...
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[{"type":"text","content":"\n\n\n\nCrystal Lake Announces Closing of Additional Tranches of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 20, 2019\n\n\n\nVANCOUVER, Dec. 20, 2019 /CNW/ - Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (\"Crystal Lake\" or the \"Company\") announces that, further to its news releases dated November 14, 2019, November 21, 2019 and December 13, 2019, it has closed an additional tranche of its non-brokered private placement (the \"Private Placement\") through the issuance of 15,477,000 units (the \"Units\") at $0.10 per Unit for gross proceeds of $1,547,700 and 1,715,923 flow-through units (the \"FT Units\") at $0.13 per FT Unit for gross proceeds of $223,070.  The total aggregate gross proceeds raised in the second tranche of the Unit and FT Unit Private Placements totals $1,770,770.\n\n \n \n\n \nUnit Private Placement:\nEach Unit consists of one common share (the \"Shares\") and one transferable warrant (the \"Warrants\"), with each warrant entitling the holder to purchase one additional Share at an exercise price of $0.15 per Share for a period of 5 years from the closing date, provided that in the event that the closing price of the Company's Shares on the TSX Venture Exchange (the \"Exchange\") (or such other exchange on which the Company's Shares may become traded) is $0.75 or greater per Share during any twenty (20) consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants.\nFT Unit Private Placement:\nEach Flow-Through Unit consists of one flow-through Share in the capital of the Company and one transferable Warrant with each Warrant entitling the holder to purchase one Share for 2 years from the closing date at an exercise price of $0.20 per Share.\nInsiders of the Company subscribed for 1,260,000 Units, with Wally Boguski, COO a...