CRS - Crestview Exploration Announces First Tranche of Non-Brokered Private Placement Financing
(TheNewswire)
Calgary, Canada – TheNewswire- August 10, 2023 – Crestview Exploration Inc.( CSE:CRS ) , ( Frankfurt:CE7 )(“ Crestview ” or the “ Company ”) announces today a first tranche ofa non-brokered private placement financing inthe aggregate amount of $104,240 with issuance of 1,303,000 units at aprice of $0.08 per unit. Each unit consists of one common share of theCompany and one share purchase warrant of the Company (the“ Offering ”). Each warrant is exercisable into one common share ofthe Company at a price of $0.16 per common share for a term oftwo-years from the date of issuance. The Company intends to use theproceeds of this Offering for its Nevada properties claim renewal,permitting, and general corporate purposes.
The Company will pay $4,300 in cash and issue 54,000warrants as compensation to qualified finders as part of thisOffering. Each warrant is exercisable at a price of $0.16 per commonshare for a term of 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. Closing of theOffering remains subject to regulatory approvals, including approvalof the Canadian Securities Exchange.
The securities offered in the Offering have not been,and will not be, registered under the United States Securities Act of1933, as amended, (the " U.S. Securities Act ") or any U.S. statesecurities laws, and may not be offered or sold in the United Statesor to, or for the account or benefit of, United States persons absentregistration or any applicable exemption from the registrationrequirements of the U.S. Securities Act and applicable U.S. statesecurities laws. This news release does not constitute an offer tosell or the solicitation of any offer to buy securities in the UnitedStates, nor in any other jurisdiction. On Behalfof the Board of Directors,
“ ChrisWensley ”
Chief Executive Officer and Director
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 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 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 materially from those in the forward-lookinginformation. These include the results of the Company’s duediligence investigations, market prices, exploration successes,continued availability of capital financing, and general economic,market or business conditions, and those additionally described in theCompany’s filings with the Canadian 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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