CNRP Mining Announces Closing of Private Placement and Provides Corporate Update
VANCOUVER, BRITISH COLUMBIA – July 14, 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 July 4, 2017) non-brokered private placement offering (the “Offering”). In connection with the Offering, the Company issued 3,000,000 shares at a price of $0.20 per share for gross proceeds of $600,000.
All 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 November 15, 2017. The net proceeds from the Offering will be used for general corporate purposes and to evaluate business opportunities outside the resource sector.
Additionally, the Company reports that it is actively working to get an updated NI 43-101 report prepared on its Elmtree project. However, the current market for gold exploration firms is rather weak and consequently, in order to enhance shareholder value, the majority of management’s time has been directed towards seeking non-resource projects. Management is currently reviewing potential opportunities in the Health Care sector and contemplating raising additional capital to provide financial flexibility to pursue such transactions. The Company will make further announcements on any future developments when and if appropriate.
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.