Crystal Lake Announces Increase in Non-Brokered Private Placement
Crystal Lake Announces Increase in Non-Brokered Private
Placement
December 13, 2019, Vancouver, British Columbia - Crystal Lake Mining Corporation (TSXV:
CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company”) announces that, further
to its news release of November 14, 2019, it wishes to increase its non-brokered private placement
(the “ Private Placement”) of units from 25,000,000 units (the “ Units”) at $0.10 per Unit to
40,000,000 Units at $0.10 per Unit for total gross proceeds of up to $4,000,000.
Each 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 (the “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. (V ancouver time) on the 30th
day after the date on which the Company provides notice of such accelerated expiry to the holders
of the Warrants.
The proceeds from the Private Placement will be used for continued exploration at the Company's
Newmont Lake Project and for working capital and general corporate purposes. All securities issued
are subject to a four-month hold period.
As announced on November 21, 2019, the Company completed t he first tranche of the Private
Placement raising gross proceeds $1,551,325 in the Unit Private Placement, and $332,500 in the
flow-through Unit Private Placement.
The Company confirms that there is no material fact or material change about the Company that has
not already been generally disclosed. Closing of the Private Placement is subject to certain
conditions, including receipt of all necessary approvals, including the approval of the Exchange.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian -based junior exploration company focused on building
shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The
Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land
packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden
Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Maurizio Napoli”
President & CEO
Email: [email protected]
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: [email protected]
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: [email protected]
Forward-Looking Statement
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 ad equacy or
accuracy of this release.