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Crystal Lake Announces Non-Brokered Private Placements; Applies Three-Year No Consolidation Resolution
Crystal Lake Announces Non-Brokered Private Placements; Applies Three-Year No Consolidatio...
About this update from Enduro Metals Corporation
[{"type":"text","content":"\n\n\n\nCrystal Lake Announces Non-Brokered Private Placements; Applies Three-Year No Consolidation Resolution\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, Nov. 14, 2019\n\n\n\nVANCOUVER, Nov. 14, 2019 /CNW/ - Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (\"Crystal Lake\" or the \"Company\") announces that it intends to complete a non-brokered private placement for gross proceeds of up to $2,500,000 through the issuance of up to 25,000,000 units (the \"Units\") at $0.10/Unit and through the issuance of up to approximately $600,000 through the issuance of approximately 4,600,000 flow-through units (the \"Flow-Through Units\") at $0.13 per Flow-Through Unit.\n\n \n \n\n \nEach Unit will consist 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 (or such other exchange on which the Company's common 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.\nEach Flow-Through Unit will consist of one flow-through common share in the capital of the Company and one 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.\nThe Company anticipates that current Insiders of the Company will participate in the Private Placement. Finder's fees may be paid to qualified parties in accordance with applicable securities laws. The proceeds from the Offering will be used for continued exploration at the Company's Newmont Lake Project and for w...