Crown Mining Announces Changes to Its Previously Proposed Non- Brokered Private Placement
CROWN MINING ANNOUNCES CHANGES TO ITS PREVIOUSLY PROPOSED NON-
BROKERED PRIVATE PLACEMENT
TORONTO, CANADA, April 1, 2020 - Crown Mining Corporation (“ Crown” or the
“Company”) (TSX Venture: CWM) announces it has revised the terms and am ount of its
previously announced non-brokered private placement (See press release date February 20,
2020). Subject to regulatory approval, the Company intends to compl ete a non-brokered private
placement (the “ Offering”) for aggregate gross proceeds of up to $200,000. The Offerin g will
be comprised of up to 8,000,000 Units (“Units”) at a price of $ 0.025 per Unit. Each Unit will
consist of one common share and one full common share purchase warrant (a “Warrant”), with
each Warrant being exercisable at $0.05 for three years after c losing subject to an acceleration
clause. The Offering is being made subject to the grant of a di scretionary waiver of the TSX
Venture Exchange’s (“ TSXV”) minimum $0.05 pricing requirement (the “ Waiver”). The
Offering is subject to a minimum $150,000 aggregate subscriptio ns. Subject to certain
limitations discussed below, the O ffering is open to all existi ng shareholders of the Company as
well as pursuant to other available prospectus exemptions. The Offering is subject to TSXV final
acceptance.
Assuming the Offering is fully su bscribed, the Company intends to allocate the proceeds as
follows: approximately $5,000 fo r current liabilities, $125,000 to keep its exploration properties
in good standing for the next twelve months, $40,000 for genera l and administration expenses
and $30,000 for general working capital purposes. The Company has not previously raised any
amount under the $500,000 maximum discretionary waiver of the TSXV.
Although the Company intends to use the proceeds of the Offering as described above, the actual
allocation of net proceeds may vary from the uses set forth above, depending on future operations
or unforeseen events or opportuni ties. If the Offering is not fully subscribed, the Company will
apply the proceeds of the Offering to the above uses in priorit y and in such proportions as the
board of directors of the Company determine is in the best interests of the Company.
Depending on demand and regulatory requirements, a portion of t he Offering may be made in
accordance with the provisions of the existing shareholder exem ption (the “Existing Shareholder
Exemption”) pursuant to OSC Rule 45-501. In addition to conduc ting the Offering pursuant to
the Existing Shareholder Exemption, the Offering will also be c onducted among close personal
friends and business associates of directors and officers of the Company.
The Company has set April 3, 2020 as the record date (the “Reco rd Date”) for the purpose of
determining shareholders entitled to purchase Units. The aggre gate acquisition cost to a
subscriber under the Existing Shareholder Exemption cannot exce ed $15,000 unless the
subscriber has obtained advice from a registered investment dealer regarding the suitability of the
investment.
If subscriptions received for the Offering based on all availab le exemptions exceed the Offering
amount of $200,000, subscriptions will be accepted at the discr etion of the Company up to a
maximum under the maximum di scretionary waiver of $500,000 or o n a pro rata basis, such that
it is possible that a subscription received from a shareholder may not be accepted by the
Company if the Offering is over-subscribed. In accordance with the Existing Shareholder
Exemption, the Company confirms t here is no material fact or ma terial change related to the
Company which has not been generally disclosed.
Existing shareholders of the Company are directed to contact th e Company for further
information concerning subscriptions for Shares pursuant to the Existing Shareholder Exemption,
as follows:
Contact person: Stephen Dunn
Telephone: 416-361-2827
Email: [email protected]
Closing of the Offering is anticipated to occur on or before Ap ril 20, 2020, and is subject to
receipt of acceptance by the TSX Venture Exchange. All securit ies issuable will be subject to a
four-month hold period following the closing of the Offering. A finder’s fee of cash may be paid
to eligible finders with respect to any portion of the Offering that is not subscribed by existing
shareholders.
About Crown Mining Corp.
Crown controls approximately 15 square miles of patented and un patented federal mining claims
in the Light’s Creek Copper District in Plumas County, NE Calif ornia; essentially, the entire
District. The District contains substantial copper (silver) su lfide and copper oxide resources in
three deposits – Moonlight, Superior and Engels, as well as sev eral partially tested and untested
exploration targets.
The Superior and Engels Mines operated from about 1915-1930 pro ducing over 161 million
pounds of copper from over 4 million tons of rock containing 2. 2% copper with silver and gold
credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s. Details of
the resources on Crown’s property and the parameters used to ca lculate them can be found in the
"Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-
Superior Copper Project, California, USA" dated April 12, 2018 on both the company’s website
at www.crownminingcorp.com or on www.sedar.com under the Crown Mining Corp profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 r esponsible for the technical
information contained in this news release, and he has reviewed and approved this news release.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Cor poration (416) 361-2827 or
email [email protected].
Neither the 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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S.
securities laws and regulations, including statements regarding the future activities of the Company. Forward-
looking statements reflect the current beliefs and expectat ions of management and are identified by the use of words
including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may
differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of
risks, including those described in the Company’s manag ement discussion and analysis as filed with the Canadian
securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue
reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any
jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of
1933 and may not be o ffered or sold in the United States absent registration or applic able exemption from the
registration requirements.