Mr. Richard Graham reports
CYPRESS HILLS RESOURCE CORP. PROVIDES UPDATE ON $1.35 MILLION NON-BROKERED PRIVATE PLACEMENT FINANCING
Cypress Hills Resource Corp.'s non-brokered private placement of up to 15 million shares at a price of nine cents per share remains continuing and, subject to TSX Venture Exchange approval, is expected to close at the end of June, 2023.
Proceeds of the private placement will be used for additional project acquisitions and for general corporate and working capital purposes.
The company may pay a finder's fee in connection with the private placement to eligible finders in accordance with the policies of the exchange and applicable securities laws consisting of a cash commission of up to 5 per cent of the gross proceeds of the private placement.
The private placement is subject to approval of the exchange and all securities of the company issued pursuant to the private placement will be subject to a four-month hold period from the date of issuance. The private placement will not result in the creation of a new control person of the company.
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