13236 Cliffstone Court
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
March 18, 2019 , Vancouver, B ritish Columbia – Crystal Lake Mining Corporation (the
“Company” or “Crystal Lake”) is pleased to announce the following corporate developments:
Hard Dollar Private Placement Increased To $3.5 Million
Due to investor demand, Crystal Lake has increased its recently announced non-brokered hard dollar
private placement financing (“Unit Private Placement”) from $3.0 million to $3.5 million (please refer
to March 15, 201 9, news release). Subscription agreements have been received for $3, 465,500
(15,402,220 units @ $0.225 per unit) and official closing of this private placement is expected in the next
several days. Each unit consists o f one common share in the capital of the Company and one share
purchase warrant. Each warrant will entitle the holder to purchase one share of the Company for a period
of 24 months from the closing of the offering at an exercise price of $0.35 per share.
The Unit Private Placement is subject to an acceleration provision that states that in the event that the
closing price of the Company’s shares on the TSX Venture Exchange (the “ TSXV”) (or such other
exchange on which the Company’s Shares may become traded) is $0.75 or greater per share during any
fifteen (15) 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.
$500,000 Flow-Through Financing
The previously announced non-brokered flow-through private placement (“FT Private Placement”) for
up to $500,000 at $0.35 per unit (refer to March 15, 2019, news release), which included a full warrant
exercisable at $0.45 per share for a period of 24 months from the closing of the FT Private Placement,
has been replaced by a $500,000 flow-through private placement at $0.32 with no warrant. Subscription
agreements have been received for $470,000 (1,468,750 flow-through shares) and the full $500,000 is
expected to officially close shortly.
Finder’s fees will be paid to qualified parties. All securities will be subject to a four-month hold period
from the closing date. The private placements are subject to the approval of the TSXV.
Proceeds from the Unit Private Placement will be for general working capital purposes and to complete
the first phase of Crystal Lake’s 2019 drill ing and exploration program (at least $3 million) at the
Newmont Lake Project in the Eskay region, optioned from Romios Gold (RG: TSXV), starting in Q2.
Proceeds of the FT Private Placement will be used to further advance the Company’s projects in
Northwest British Columbia and Northwest Ontario.
NEWS RELEASE
Crystal Lake Increases Financings To $4 Million
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
Stock Options
The Company is filing application to reprice current stock options granted to employees, consultants and
directors as follows:
• 600,000 Options granted December 20, 2017, from a $0.60 price to $0.30
• 900,000 Options granted January 15, 2018, from a $0.60 price to $0.30
• 2,000,000 Options granted September 18, 2018, from a $0.55 price to $0.30 cents
The above stock option repricing is subject to TSX and may require disinterested shareholder approval
at the next AGM for insiders who hold stock options.
The Company is also pleased to announce that pursuant to the Company’s stock option plan, it has
granted incentive stock options to its directors, officers, employees and consultants to purchase an
aggregate of 960,000 shares at an exercise price of $0.30 per share for up to two years.
The Company is filing an application to extend the date of maturity for 2,100,000 warrants which expire
May, 2019, and 2,021,000 warrants which expire June 3, 2019, to December 1, 2019.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on creating shareholder wealth
through high-impact new mineral discoveries in the prolific Eskay region of Northwest British Columbia and in
Northwest Ontario.
For further information please contact:
MarketSmart Communications Inc.
Tel: +1 (604) 261-4466
Toll free: +1-877- 261-4466
Email: [email protected]
On behalf of The Board of Directors of Crystal Lake Mining Corporation,
Richard Savage, President & CEO
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of
this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.