Crown Mining Completes $200,000 Private Placement
CROWN MINING COMPLETES $200,000 PRIVATE PLACEMENT
TORONTO, CANADA, November 20, 2017 – 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 No vember 1, 2017 (the “Private Placement”) for
aggregate gross proceeds of $200,000. The Private Placement involved the issuance of
2,000,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of $200,000. Each Unit
consists of one common share in the capital stock the Company (a “C ommon Share”) and one
Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to
acquire one Common Share at a pr ice of $0.20 at any time up to the date that is two years
following the date of closing of the Private Pla cement, subject to an acceleration clause. All
securities issued pursuant to this Private Placement will be subject to a four-month hold period.
The indirect and direct participation in the Private Placement by insi ders of the Company
constitutes a “related party transaction” as such term is defined under Multilateral Instrument 61-
101 – Protection of Minority Security Holders in Special Transacti ons (“MI 61-101”). Insiders
of the Company acquired directly and indire ctly a total of $10,000 wo rth of Units or 100,000
Units in the Private Placement on the same basis as other participants. The Company is relying
on the exemptions from the formal valuati on and minority approval requirements under MI 61-
101. The Company is exempt from the formal valuation requirement of MI 61-101 based on
section 5.5(b) of MI 61-101 as no securities of the Company are li sted or quoted for trading on
the Toronto Stock Exchange, the New York Stoc k Exchange, the American Stock Exchange, the
NASDAQ stock market or any other stock excha nge outside of Canada and the United States
other than the Alternative Investment Market of the London Stock Exchange or the Plus operated
by Plus Markets Group plc. Additionally, the Company is exempt from obtaining minority
shareholder approval in connection with the Priv ate Placement by relying on section 5.7(1)(b) of
MI 61-101 as, in addition to the fo regoing, (i) neither the fair mark et value of the Units nor the
consideration received in respect thereof from “interested parties” as defined by MI 61-101
would exceed $2,500,000, (ii) the Company has one or more independent directors in respect of
the Private Placement who are not employees of the Company, and (iii) all of the independent
directors have approved the Private Placement.
A material change report in connection with th e Private Placements will be filed less than 21
days before the closing of the Private Placement. This shorter period is reasonable and necessary
in the circumstances as the Company wished to complete the Private Placements in a timely
manner.
The Company will use the proceeds of the Priv ate Placement for exploration and development
work at its Moonlight-Superior Copper Project and for general working capital purposes.
Crown is focused on advancing its 100% contro lled Moonlight-Superio r Copper Project in
Northeast California which incl udes 4 known copper deposits. The Moonlight deposit hosts a
current National Instrument 43-101 (“NI 43-101”) indicated re source of approximately 161
million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112
ounces of silver per ton for 1.044 billion pounds of copper, and an inferred resource of 88 million
tons (80 million tonnes) averaging 0.282% copp er per ton for 496 mill ion pounds of copper.
Further details of this resour ce can be found in the Technical Report on the Moonlight Copper
Property dated April 12, 2007 at Sedar.com. The S uperior and Engels deposits have a current NI
43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of
0.43% for 547 million pounds of copper. Further deta ils of this resource can be found in the
Technical Report on the Superior Project dated November 7, 2014 filed on Sedar which also
discloses a historical resource estimate for the fourth deposit.
Mr. George Cole is the Qualified Person pursu ant to NI 43-101 responsible for the technical
information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CE O and Director, Crown Mining Corporation (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”, “p lanned” 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 flow-through common shares will not be and have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable
exemption from the registration requirements.