Crown Mining Completes $350,000 Private Placement
CROWN MINING COMPLETES $350,000 PRIVATE PLACEMENT
TORONTO, CANADA, July 28, 2020 – Crown Mining Corp., (“ Crown” or the “ Company”)
(TSX Venture: CWM) is pleased to announce that it has completed a non-brokered private
placement (the “Private Placement” ) for aggregate gross proceeds of $350,000. The Private
Placement involved the issuance of 7,000,000 units ( “Units”) at a price of $0.05 per Unit for
gross proceeds of $350,000. Each Unit consists of one common s hare in the capital stock the
Company (a “Common Share” ) and one warrant. Each warrant will entitle the holder to
purchase one Common Share for $0.10 at any time within 2 years after closing subject to an
acceleration clause. All securiti es issued pursuant to this Pri vate Placement will be subject to a
four-month hold period.
As part of the Private Placement, the Company issued 500,000 Finders' Units to the Finders, with
each Finder Unit entitling the holder to purchase one Unit at a price of $0.05 per Unit,
exercisable until July 27, 2022. Each Unit consists of one Co mmon Share and one warrant.
Each warrant will entitle the holder to purchase one Common Sha re for $0.10 at any time until
July 27, 2022, subject to an a cceleration clause. In addition, the Company paid Brokers' fees of
$3,150.
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.
The Company will use the proceeds of the Private Placement for general working capital
purposes.
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.