pcNewswire – CNRP Mining Inc. (CSE: CND) has closed previously announced non-brokered private placement of 9,012,500 units at $0.115 per unit for gross proceeds of $1,036,437.50.
Proceeds will be used for general corporate purposes.
CNRP Mining Announces Closing of Private Placement
VANCOUVER, BRITISH COLUMBIA – June 13, 2017 – CNRP Mining Inc. (CSE: CND) (the “Company” or “CNRP Mining”), is pleased to announce that it has now closed its previously announced (see press release dated June 8, 2017) non-brokered private placement offering (the “Offering”).
In connection with the Offering, the Company issued 9,012,500 units (the “Units”) at a price of $0.115 per Unit for gross proceeds of $1,036,437.50. Each Unit was comprised of one common share in the capital of the Company (a “Share”) and three-quarters of one transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one additional Share at a price of $0.15 until June 13, 2018. An aggregate of 6,759,375 Warrants were issued in connection with the Offering.
Other than certain securities being issued to consultants, all other securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation expiring on October 14, 2017.
The net proceeds from the Offering will be used for general corporate purposes.
ON BEHALF OF THE BOARD
“Randy Clifford” Director
For further information, please contact:
Randy Clifford Telephone: 780-466-6006
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.