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Crestview Exploration Announces Closing of Second Tranche of Private Placement
Calgary, Canada – TheNewswire - May 23, 2023 – Crestview Exploration Inc. (CSE:CRS), (Frankfurt:CE7) (“Crestview” or the “Company”) is pleased to announce that
About this update from Gold Runner Exploration Inc.
[{"type":"text","content":"Calgary, Canada – TheNewswire - May 23, 2023 – Crestview Exploration Inc. (CSE:CRS), (Frankfurt:CE7) (“Crestview” or the “Company”) is pleased to announce that is has closed, subject to Canadian Securities Exchange approval, the second tranche of its non-brokered private placement previously announced on February 27, 2023. In this second tranche closing, the Company issued 1,460,000 units at a price of $0.105 per unit, for aggregate proceeds of $153,300.00. Each unit consisted of one common share of the Company and one share purchase warrant of the Company (the “Offering”). Each warrant is exercisable into one common share of the Company at a price of $0.20 for a term of two-years from the date of issuance. The Company intends to use the proceeds from this Offering for permitting and other drilling preparatory work, and for general corporate purposes. In connection with this second tranche closing, the Company will pay $12,264.00 in cash and issue 116,800 warrants as compensation to qualified finders as part of this Offering. Each warrant is exercisable at a price of $0.20 for a term of two-years from the date of issuance. Also, in conjunction with this closing and subject to approval by the Canadian Securities Exchange, the Company announces that it is issuing 482,250 units, on the same terms as the Offering, to GoldPlay LLC, in accordance with the Exploration License with Option to Purchase Agreement (the “Agreement”) dated April 8, 2020 and amended April 15, 2023, in respect of the Minimum Advanced Royalty Payments (as defined in the Agreement) for the Company’s Divide and Castile projects. Each unit shall comprise one common share of the Company and one common share purchase warrant of the Company. Each warrant is exercisable into one common share of the Company at a price of $0.20 for a term of two years from the date of issuance. The securities issued under the Offering and Agreement will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws. None of the securities offered in connection with the Offering or issued pursuant to the Agreement will be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States. This news release shall not constitute an offer to sell or a solicitation of an...