Crown Mining Completes $152,500 Private Placement
CROWN MINING COMPLETES $152,500 PRIVATE PLACEMENT
TORONTO, CANADA, April 27, 2 020 – Crown Mining Corp., (“ Crown” or the “ Company”)
(TSX Venture: CWM) is pleased to announce that it has completed a non-brokered private
placement previously announced on April 1, 2020 (the “Private Placement” ) for aggregate
gross proceeds of $152,500. The Private Placement involved the issuance of 6,100,000 units
(“Units”) at a price of $0.025 per Unit for gross proceeds of $152,500. Each Unit consists of
one common share in the capital stock the Company (a “Common Share” ) and one warrant.
Each warrant will entitle the holder to purchase one Common Sha re for $0.05 at any time within
3 years after closing subject to an acceleration clause. All se curities issued pursuant to this
Private Placement will be subject to a four-month hold period. The Offering was made under the
grant of a discretionary waiver of the TSX Venture Exchange’s ( “TSXV”) minimum $0.05
pricing requirement (the “ Waiver”). The Company now has $347,500 under the $500,000
maximum discretionary waiver of the TSXV available in future.
The Company intends to allocate the proceeds as follows: approx imately $5,000 for current
liabilities, $125,000 to keep its e xploration properties in goo d standing for the next twelve
months and $22,500 for general and administration expenses. Al though 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 operati ons or unforeseen events or
opportunities.
Insiders of the Company acquired directly and indirectly a tota l of $67,500 worth of Units or
2,700,000 Units in the Private Placement on the same basis as o ther participants. The direct and
indirect participation in the Private Placement by an insider of the Company constitutes a “related
party transaction” as such term is defined under Multilateral I nstrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“ MI 61-101”). The Company is relying on
the exemptions from the formal valuation (section 5.5(b)) and m inority approval requirements
(section 5.7(1)(b)) under MI 61-101.
A material change report in connection with the Private Placeme n t s w i l l b e f i l e d l e s s t h a n 2 1
days before the closing of the P rivate Placement. The Company b elieves this shorter period is
reasonable and necessary in the circumstances as the Company wi shed to complete the Private
Placements in a timely manner.
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.