Crystal Increases Non-Brokered Unit Offering
WEB: WWW.CRYSTALEXPLORATION.COM
EMAIL: [email protected]
TELEPHONE: 604 260 6977
CRYSTAL INCREASES
NON-BROKERED UNIT OFFERING
Vancouver – May 9, 2018 – Crystal Exploration Inc. (the “Company” or “Crystal”) (TSX-V: CEI)
(OTCQB: CYRTF) ( FWB: A2ATHU) – further to the Company’s announcement on March 22, 2018,
Crystal is pleased to announce that it has increased the required financing for the Lawyers Property, BC, from
$3.0 million to $3.21 million.
The Company now proposes to complete a non-brokered private placement of 53,500,000 units (the “Units”)
at an offering price of $0.06 per Unit, to raise gross proceeds of up to $3.21 million (the “Offering”). Each
Unit will consist of one (1) common share of the Company as the share capital is presently constituted, and one
(1) share purchase warrant (the “Warrants”) to acquire one additional common share at an exercise price of
$0.12 per share for a period of two (2) years from the date of closing of the Offering. In the event that the
common shares of the Company trade at a closing price greater than $0. 14 per share for a period of 10
consecutive days, then the Company may deliver a notice to the Warrant holders that they must exercise
their Warrants within the next 30 days, or the Warrants will expire. The net proceeds from the Offering will
be used to finance the minimum expenditures on the Property over the next 12 months, as well as to provide
the Company with working capital for general and administrative expenses. The terms of the Offering are
subject to the acceptance of the Exchange. Certain finders will receive finders’ fees equal to 6% in cash and
6% in Warrants of the gross proceeds raised from their introductions.
Share Consolidation
The Company is also proceeding with a special meeting of its shareholders to be held on May 22, 2018 to
consider, and if thought fit, to approve a 3:1 share consolidation of the Company’s common shares by ordinary
resolution (the “Consolidation”). Assuming the proposed Offering is completed and the Consolidation is
approved, the effective consolidation-adjusted terms of the Offering will be 17,833,333 Units issued, each Unit
consisting of one common share at a price of $0.18 and one Warrant with an exercise price of $0.36 per share,
with closing prices greater than $0.42 per share for 10 consecutive days triggering the Company’s right to
require Warrant holders to exercise within 30 days. Upon completion of the Offering and the Consolidation,
but excluding the exercise of any of Crystal’s outstanding share purchase warrants or any other share issuances,
the Company will have about 33,306,538 shares outstanding.
About Crystal Exploration Inc.
Crystal is a Canadian gold , silver and diamond Exploration Company with its common shares listed for
trading on the TSX Venture Exchange in Canada, the OTCQB Venture Market in the United States and
the Frankfurt Stock Exchange in Germany . Crystal is managed by proven resource sector professionals,
who have a track record of advancing exploration projects from grassroots scenarios through to production.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
Jim Greig,
President
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-
LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE
CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE
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BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL
RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND
INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”,
“ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.
FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN
FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL
RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES,
TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL
AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS,
ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS
ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND
INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE
IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM
THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING
STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.