Crystal PEAK Announces Convertible Loan Agreement with EMR
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FOR IMMEDIATE RELEASE
CRYSTAL PEAK ANNOUNCES
CONVERTIBLE LOAN AGREEMENT
WITH EMR
Toronto, June 22, 2016 – Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”)
(TSXV: CPM, OTCQX: CPMMF) is pleased to announce that it has entered into a convertible
loan agreement (the “Loan Agreement”) with EMR Capi tal Investment (No. 5B) Pte. Ltd., an
affiliate of EMR Capital Resources Fund 1, LP (“EMR”), its largest shareholder, pursuant t o
which EMR will lend Crystal Peak US$12,000,000 (the “Loan”). The Loan will mature in 18
months from the date of issuance, and will bear interest at the rate of 12%, compounded
quarterly.
The principal amount of the Loan, in whole or in part, is convert ible into common shares of the
Company at the option of the holder, at a price per common share of C$0.55. In addition, the
interest on the Loan is payable in common shares of Crystal Peak at the market price of the
Company on the earlier of the date of conversion or certain prescribed interest payment dates ,
subject to the approval of the TSX Venture Exchange.
Crystal Peak intends to use the funds received from the Loan to fund the continuing development
program for its specialty fertilizer project on the Sevier Playa in southwestern Utah, U.S.A.
including construction and engineering activities for the project as well as for general working
capital purposes.
The closing of the Loan is subject to certain customary closing conditions set out in the Loan
Agreement and is expected to take place on or about June 29, 2017. All of the securities issued
pursuant to the Loan Agreement will be subject to a four month and one day hold period from
the closing date of the Loan. The Loan remains subject to the appro val of the TSX Venture
Exchange.
About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. Crystal Peak controls,
directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa
property in Millard County, Utah. With a brine mineral resource known to contain potassium,
magnesium, sulphate, lithium, and a suite of other beneficia l minerals, Crystal Peak is targeting
the production of specialty fertilizers, initially focused on potassium sulphate ( “SOP”), through
the use of a cost -effective solar evaporation process. SOP and other specialty fertilizers are used
in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts.
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Crystal Peak is currently engaged in engineering and analysis designed to support a feasibility
study, environmental permitting, and ultimately mineral production.
For further information, please contact:
Lance D'Ambrosio
Chief Executive Officer
(801) 485-0223
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 release.
Forward-Looking Information
This news release contains "forward -looking information" within the meaning of applicable
Canadian securities legislation. Forward -looking information includes, but is not limited to , the
completion and timing of the Loan; the feasibility study and the results thereof; the targeting of
the development and production of specialty fertilizers and associated minerals, including SOP ,
lithium, and magnesium compounds through the use of a cost -effective solar evaporation
process; and Crystal Peak’s future business. Generally, forward- looking information can be
identified by the use of forward-looking terminology such as "plans", "is expected", "expects" or
"does not expect", "budget", "scheduled", "estimates", "forec asts", "intends", "anticipates" or
"does not anticipate", "believes", or variations of such words and phrases ; or terms that state that
certain actions, events, or results "may", "could", "would", "might", or "will be taken", “could
occur", or "be achieved". Forward-looking information is based on the opinions and estimates of
management at the date the information is made, and is based on a number of assumptions and is
subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Crystal Peak to be materially different
from those expressed or implied by such forward -looking information. Although Crystal Peak
has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward- looking information, there may be other factors that cause
results not to be as anticipated, estimated , or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not plac e undue reliance
on forward-looking information. Crystal Peak does not undertake to update any forward- looking
information, except in accordance with applicable securities laws.