CNRP Mining Announces Closing of $3,000,000 Private Placement and Amendments to Previously Closed Offerings

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

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| Source: CNRP Mining

VANCOUVER, British Columbia, Sept. 26, 2017 (GLOBE NEWSWIRE) -- CNRP Mining Inc. (CSE:CND) (the “Company” or “CNRP Mining”), is pleased to announce that it has now closed its previously announced (see press releases dated July 21, 2017 and August 22, 2017) non-brokered private placement offering (the “Offering”).  In connection with the Offering, the Company issued 10,000,000 common shares in the capital of the Company (a “Share”) at a price of $0.30 per Share for gross proceeds of $3,000,000.

In connection with the Offering, the Company has paid eligible finders a cash commission in the aggregate amount of $86,631.96 being 8% of the gross proceeds from the sale of Shares to purchasers introduced by the finders, as well as issued an aggregate of 288,773 finders’ warrants (“Finders’ Warrants”), which is equal to 8% of the number of Shares sold to purchasers introduced by the finders.  Each Finders’ Warrant entitles the finder to acquire a Share at an exercise price of $0.40 per Share until September 26, 2018.

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 January 27, 2017.  The net proceeds from the Offering are expected to be used to fund the Company’s acquisition of X-Sprays (see press release dated August 22, 2017) and for general corporate purposes. 

Additionally, the Company reports that the terms of its previously closed non-brokered private placements have been amended. 

Specifically, on June 13, 2017, the Company completed a non-brokered private placement of units (“Units”) at a price of $0.115 per Unit for gross proceeds of $1,036,437.50.  Each Unit was comprised of one Share and three-quarters of one transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one additional Share at a price of $0.15 until June 13, 2018.  An aggregate of 9,012,500 Shares and 6,759,375 Warrants were issued in connection with this offering.  The price per Unit has been voluntarily adjusted by the subscribers from $0.115 to $0.30 (“Adjusted Unit”) and each warrant will be exercisable at a price of $0.30 per Share rather than $0.15 (“Adjusted Warrant”).  In addition, some securities issued in connection with this offering have been cancelled.  In total, the Company issued 3,731,950 Adjusted Units at a price of $0.30 per Adjusted Unit for gross proceeds of $1,119,585.  An aggregate of 3,731,950 Shares and 2,798,955 Adjusted Warrants were issued.

In addition, On July 14, 2017, the Company completed a non-brokered private placement of Shares at a price of $0.20 per Share for gross proceeds of $600,000.  An aggregate of 3,000,000 Shares were issued in connection with this offering.  The price per Share has been voluntarily adjusted by the subscribers from $0.20 per Share to $0.30 per Share.  In addition, some securities issued in connection with this offering have been cancelled.  In total, the Company issued 1,683,329 Shares at a price of $0.30 per Share for gross proceeds of $504,998.70.

ON BEHALF OF THE BOARD

"Randy Clifford"
Director

For further information, please contact:
Randy Clifford
Telephone: 780-466-6006
Email: info@cnrpmining.com

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.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the proposed share consolidation, the proposed shares for debt settlement transactions and the creation of a new control person, are forward-looking information. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking information disclosed by the Company is not a guarantee of future performance, and that actual results may differ materially from those in forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.