VANCOUVER, British Columbia, June 12, 2017 (GLOBE NEWSWIRE) -- CRYSTAL EXPLORATION INC. (the “Company” or “Crystal”) (TSXV:CEI) (OTCQB:CYRTF) announces an extension to the private placement previously announced on May 12, 2017. The Company proposes to complete a non-brokered private placement financing on a best efforts basis of up to 10 million units (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.18 for a period of 24 months from the date of issue of the warrant. In the event that the shares of the Company trade at a price greater than $0.25 per share for a period of 20 consecutive days, then the Company may deliver a notice to the warrant holders that they must exercise the Warrants within the next 30 days, or the Warrants will expire.
Proceeds from the private placement will be used for working capital and to advance gold and diamond projects located in Nunavut, Canada.
All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the "TSXV") and finder's fees may be payable in accordance with the policies of the TSXV.
Shareholders seeking further information about participation in the Placement should contact the Company at the telephone number or email address above.
About Crystal Exploration Inc.
Crystal is a Canadian gold & diamond exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
Jim Greig,
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.