CRS - Crestview Exploration Announces Closing of Second Tranche of Private Placement
(TheNewswire)
Calgary, Canada – TheNewswire- February 6, 2023 – Crestview ExplorationInc. ( CSE:CRS ) , ( Frankfurt:CE7 )(“ Crestview ” or the “ Company ”) is pleased to announce that is hasclosed, subject to Canadian Securities Exchange approval, the secondtranche of its non-brokered private placement inthe aggregate amount of $48,500 by issuing 485,000 units at a price of$0.10 per unit. Each unit consists of one common share of the Companyand one share purchase warrant of the Company (the “ Offering ”). Eachwarrant is exercisable into one common share of the Company at a priceof $0.20 for a term of two-years from the date of issuance. TheCompany intends to use the proceeds of this Offering for expandedgeophysical surveying, claim expansion and general corporatepurposes.
The Company will pay $1,800 in cash and issue 18,000warrants as compensation to qualified finders as part of thisOffering. Each warrant is exercisable at a price of $0.20 for a termof two-years from the date of issuance.
The securities issued under the Offering will have ahold period expiring four months and one day from the date of issuancepursuant to applicable Canadian securities laws.
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,
“ ChrisWensley ”, CEO
About Crestview ExplorationInc:
Crestview Exploration is anexperienced exploration company focused on the exploration anddevelopment of its portfolio of gold and silver properties located inprolific mining districts of Nevada.
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 the acquisition of the nearby Divide Mineprospect in April 2020, and the acquisition of the Falcon silver-goldprospect in September 2022. Between the three properties, alltargeting similar mineralization and likely the same hydrothermalsystem, Crestview now holds 260 total claims in close proximity of oneanother. These three gold prospects, along with the nearby Castileprospect, are situated in a region with proven "world class"gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle,and Gold Quarry), where the potential of finding large, high-gradegold-silver deposits is favorable.
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 Mountaindeposit.
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 may address the Offering,acquisitions of a property and/or future work thereon, mineralresource and reserve potential, exploration activities and events ordevelopments, if applicable, that the Company expects isforward-looking information. Although the Company believes theexpectations expressed in such statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results or developments may differ materially from those inthe statements. There are certain factors that could cause actualresults to differ materiallyfrom those in the forward-looking information. These include theresults of the Company’s due diligence investigations, marketprices, exploration successes, continued availability of capitalfinancing, and general economic, market or business conditions, andthose additionally described in the Company’s filings with theCanadian securities authorities.
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 SECURITIESEXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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