Cypress Development Files Complaint Against Centrestone Resources
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX Venture Exchange Symbol: CYP
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
January 31, 2019
Cypress Development Files Complaint Against Centrestone Resources
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) notifies its share holders that on
January 22, 2019, the Company’s U.S. subsidiary, Cypress Holdings (Nevada) Ltd.,
filed a Complaint in the Fifth Judicial Court of the State of Nevada in and for the County
of Esmeralda. The Complaint was filed against Centrestone Resources LLC
(“Centrestone”), a Nevada limited liability company which maintains its registered
office at 5348 Vegas Drive, Las Vegas, Nevada.
Cypress reports that, in late 2018, the Company becam e aware of trespassing and
exploration activities by Centrestone that infringed on the southern and eastern
margins of the Company’s unpatented mining claims in Clayton Valley. Cypress
determined as a result that it was in the best interest of the Company and its
shareholders to file the Complaint to preserve its rights in its unpatented mining claims
and to enjoin Centrestone from entering on Cypress’ property. Cypress also will seek
damages for trespass, slander of title, and costs. Centrestone has until February 11,
2019 to respond to the Complaint.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on
developing the Company's 100% -owned Clayton Valley Lithium Project in Nevada.
Exploration and de velopment by Cypress has discovered a world -class resource of
lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's
only lithium brine operation.
Cypress Development Corp. has approx. 72.5 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX -V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Dr. Bill Willoughby”
WILLIAM WILLOUGHBY, PhD., PE
2
Chief Executive Officer
For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward -looking
statements". All statements in this release, other than statements of historical facts, that
address events or developments that manage ment of the Company expects, are forward -
looking statements. Although management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actua l results or developments may differ materially
from those in the forward-looking statements. The Company undertakes no obligation to update
these forward -looking statements if management's beliefs, estimates or opinions, or other
factors, should change. F actors that could cause actual results to differ materially from those
in forward-looking statements, include market prices, exploration and development successes,
continued availability of capital and financing, and general economic, market or business
conditions. Please see the public filings of the Company at www.sedar.com for further
information.