Cypress Development Announces Private Placement Financing
(Thomson Reuters ONE) -
VANCOUVER, B.C., Dec. 02, 2016 (GLOBE NEWSWIRE) -- Cypress Development
Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the "Company")
announces a non-brokered private placement of up to 3,000,000 units at a price
of $0.10 per unit ("Unit") to raise gross proceeds of up to $300,000. Each Unit
will consists of one common share and one non-transferable share purchase
warrant ("Warrant"), with each Warrant entitling the holder to purchase an
additional common share for a period of three years at a price of $0.125 per
share from the closing date of the private placement.
A finder's fee of 7% in cash and 7% in non-transferable warrants ("Finder's
Warrant") may be paid in connection with part of this private placement. Each
Finder's Warrant will entitle the finder to purchase a common share of Cypress
at a price of $0.125 per share for a period of three years from the closing date
of the private placement.
The Company intends to utilize the proceeds of this private placement to
continue to advance its lithium projects in Clayton Valley, Nevada and for
general working purposes.
Cypress Clayton Valley Lithium Project, Nevada location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
About Cypress Development Corp.:
Cypress development Corp is a publicly traded lithium and zinc exploration
company that continues to acquire and develop potentially viable mineral
projects in the State of Nevada, U.S.A.
Cypress is very active in Clayton Valley, Nevada with its team committed to
systematically exploring its properties for both a lithium-brine resource and
expanding exploration relating to the potential for lithium that exists within
the recently discovered non-hectorite "claystones", that has seen recent high
lithium assays recovered from these same "claystones".
Cypress Development Corp. has approx. 27.9 million shares issued and
outstanding.
To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
"Don Huston"
DONALD C. HUSTON
President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.
For further information contact Donald C. Huston or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)cypressdevelopmentcorp.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cypress Development Corp via GlobeNewswire
Datum: 02.12.2016 - 19:39 Uhr
Sprache: Deutsch
News-ID 510602
Anzahl Zeichen: 4622
contact information:
Town:
Vancouver
Kategorie:
Business News
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