Cedar Mountain Exploration Inc. (the “Corporation” or “Cedar”) (CED:TSXV) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) of up to 5,000,000 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of $500,000 if fully subscribed. Each Unit shall consist of one common share of the Corporation (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share for a period of 24 months following the closing of the Offering (the “Exercise Period”) at an exercise price of $0.15 per Common Share in the first 12 months of the Exercise Period and at a price of $0.20 per Common Share for the remaining 12 months of the Exercise Period. The Corporation may pay commissions or finder’s fees in accordance with the TSX Venture Exchange policies.
The Units will be sold to qualified purchasers in
The Corporation intends to use the proceeds from the Offering for general working capital. The completion of the Offering is subject to TSX Venture Exchange and other regulatory approvals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
About Cedar Mountain Exploration Inc.
Cedar is a junior mineral exploration company with gold, silver and base metal projects in
Cedar is a member of the Discovery Group of Companies.
For more information contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.