Mr. Stephen Dunn reports
CROWN MINING PROPOSES $100,000 NON-BROKERED PRIVATE PLACEMENT
Crown Mining Corp. has arranged a non-brokered private placement for aggregate gross proceeds of up to $100,000 with up to one million units at a price of 10 cents per unit (each such unit comprising one common share and one warrant). Each warrant will entitle the holder to purchase one common share for 16 cents at any time within two years after closing, subject to an acceleration clause. All securities issued pursuant to this private placement will be subject to a four-month hold period. The company proposes to pay to eligible finders a finder's fee equal to a cash payment of 10 per cent of the gross proceeds raised. Completion of the offering is subject to receipt of all required regulatory and TSX Venture Exchange approvals.
The company intends to use the proceeds of the private placement for general working capital purposes.
About Crown Mining Corp.
Crown Mining controls approximately 15 square miles of patented and unpatented federal mining claims in the Light's Creek copper district in Plumas county, northeast California, essentially, the entire district. The district contains substantial copper (silver) sulphide and copper oxide resources in three deposits: Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
We seek Safe Harbor.
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