CRS:CC - Crestview Exploration Announces $500000 Private Placement
(TheNewswire)
Calgary, Canada - TheNewswire - December 14, 2022 - Cre stview Exploration Inc.(CSE:CRS ) (FRA :CE7) (“Crestview” or “the Company”) intendsto undertake a non-brokered private placement financing to raise grossproceeds of up to $500,000 from the sale of up to 5 million units at aprice of 10 cents per unit. Each unit shall be comprised of one commonshare of the company and one common share purchase warrant. Eachwarrant will entitle the holder thereof to acquire one common sharefrom the company at a price of 20 cents per share for a period of 24months from closing of the offering.
The company intends to use the net proceeds from theoffering for continuation of geological analysis currently underway,property payments, working capital requirements, and other generalcorporate purposes.
The closing of the offering is subject to certainconditions, including the approval of the Canadian Securities Exchange(CSE). All securities issued pursuant to the offering will be subjectto a statutory four-month-and-one-day hold period from the closingdate.
The company may pay a finder's fee in respect of thosepurchasers under the offering introduced to the company by certainpersons. Each finder will receive a cash payment equal to 6 per centof the gross proceeds received by the company from purchasers underthe offering who were introduced to the company by such finder.
None of the securities offered in connection with theOffering will be registered under the United States Securities Act of1933, as amended, or the securities laws of any state of the UnitedStates.
This news release shall not constitute an offer to sellor a solicitation of an offer to buy, nor shall there be any sale ofthe securities in any state where such offer, solicitation, or salewould be unlawful.
On Behalf of the Board of Directors,
Chris Wensley, CEO
About Crestview ExplorationInc:
Crestview Exploration is anexperienced exploration company focused on the exploration anddevelopment of its portfolioof gold and silver properties located in prolific mining districts ofNevada.
The Rock Creek gold project isCrestview's flagship asset, with 74 unpatented lode mining claimswholly owned and controlled by CRS. The Rock Creek property wasacquired in 2017, and the company went public in 2019. Emboldened bythe results coming out of Rock Creek, Crestview strategically expandedon the land position with theacquisition of the nearby Divide Mine prospect in April 2020, and theacquisition of the Falcon silver-gold prospect in September 2022.Between the three properties, all targeting similar mineralization andlikely the same hydrothermal system, Crestview now holds 260 totalclaims in close proximity of one another. These three gold prospects,along with the nearby Castile prospect, are situated in a region withproven "world class" gold deposits (including Midas, JerrittCanyon, Betze-Post, Meikle, and Gold Quarry), where the potential offinding large, high-grade gold-silver deposits is favourable.
The Cimarron project is located inthe San Antonio Mountains of Nye County, Nevada, and is comprised of31 unpatented lode mining claims, including control of 6 historicallyproducing claims associated with the historic San Antonio mine. Theproperty is located in the prolific Walker-Lane trend, approximately44 kms south of the "world class" Round Mountain deposit.
For further information pleasecontact:
Chris Wensley, Chief Executive Officer
Tel: 1-778-887-3900
Email: Chris@crestviewexploration.com
Forward-Looking Information
This news release includes certaininformation that may be deemed “forward-looking information” underapplicable securities laws. All statements in this release, other thanstatements of historical facts, that address acquisition of theProperty and future work thereon, mineral resource and reservepotential, exploration activities and events or developments that theCompany expects is forward-looking information. Although the Companybelieves the expectations expressed in such statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the statements. There are certain factors that couldcause actual results to differ materially from those in theforward-looking information. These include the results of theCompany’s due diligence investigations, market prices, explorationsuccesses, continued availability of capital financing, and generaleconomic, market or business conditions, and those additionallydescribed in the Company’s filings with the Canadian securitiesauthorities.
Investors are cautioned that anysuch statements are not guarantees of future performance and actualresults or developments may differ materially from those projected inthe forward-looking information. For more information on the Company,investors are encouraged to review the Company’s public filings atwww.sedar.com. The Company disclaims any intention or obligation toupdate or revise any forward- looking information, whether as a resultof new information, future events or otherwise, other than as requiredby law .
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FORTHE ADEQUACY OR ACCURACY OF THIS RELEASE
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