13236 Cliffstone Court
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
March 15, 2019, Vancouver, British Columbia – Crystal Lake Mining Corporation (the “Company”
or “Crystal Lake”) is pleased to announce that, subject to the approval of the TSX Venture Exchange ,
(“TSXV”) the Company has arranged a $3,000,000 non-brokered hard dollar private placement (“Unit
Private Placement”) with a group of strategic investors at a price of $0.225 per unit (13,333,334 units).
Each unit will consist of one common share in the capital of the Company and one common 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. This financing is expected
to close during the week of March 18.
Additionally, the Company wishes to announce that, subject to TSXV a pproval, it proposes to raise up to
$500,000 through a non -brokered flow-through private placement (“FT Private Placement ”) of up to
1,428,571 flow-through units at a price of $0.35 per flow-through unit. Each flow-through unit will consist
of one flow-through common share in the capital of the Company and one 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 $0.45 per flow-through share. This financing is also expected to close during
the week of March 18.
The warrants issued in the Unit Private Placement and FT Private Placement are subject to an acceleration
provision that states that in the event that the closing price of the Company’s shares on the TSXV (or such
other exchange on which the Company’s shares may become traded) is $0.75 (CDN) 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.
Proceeds from the Unit Private Placement will be for general working capital purposes and to complete the
first phase of Crystal Lake’s 2019 drilling 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 Newmont Lake Project
and its Nicobat Project in Northwest Ontario.
The securities will be subject to a four -month hold period from the closing date. Finder’s fees may be
payable to qualified parties.
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.
NEWS RELEASE
Crystal Lake Arranges $3.5 Million
in Non-Brokered Private Placements
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
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.