Cypress Development Increases Private Placement Financing
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
“NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES”
October 16, 2018
Cypress Development Increases Private Placement Financing
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce that due to
strong interest, the Company is increasing the previously announced non-brokered
private placement (see news release dated October 11 th, 2018) to 9,000,000 units at
a price of $0.22 each to raise gross proceeds of up to $ 1,980,000. Each unit will
consist of one common share and one warrant (each, a “Warrant”) exercisable to
purchase one additional common share at a price of $0.33 each for a period of 3 years
from the date of issuance.
Proceeds of the offering will finance the completion of a prefeasibility study (PFS) for
Cypress’ Clayton Valley Lithium Project in Nevada , including further metallurgical
studies, related infill drilling , and for general working capital purposes . Dr. Bill
Willoughby, Chief Executive Officer, commented: " Cypress is pleased to be able to
fund the Clayton Valley Project’s next steps with a mod est capital outlay. The
undertaking of i nfill drilling, further metallurgical studies and a prefeasibility study to
provide more detailed information related to the project's economic assumptions hold
the potential to unlock significant shareholder value."
Finder's fees may be paid in connection with part of this private placement offering.
The private placement is subject to TSX Venture Exchange acceptance.
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 development 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. 62.7 million shares issued and outstanding.
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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
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 management of the Company expects, are forward -
looking statements. Although management believes the expect ations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual 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. Factors 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.