VANCOUVER, British Columbia, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Cresval Capital Corp. (“Cresval” or “the Company”) (CRV: TSX-V) announces that it intends to raise up to $350,000 by way of a non-brokered private placement of up to 7,000,000 units of the Company at a price of $0.05/unit. Each unit shall comprise of one common share and one common share purchase warrant, exercisable at $0.07 per warrant share for a period of two years following the close of the private placement. The Company may pay a finder’s fee consisting of cash, shares and/or warrants to eligible finders as permitted under applicable securities laws and TSX Venture Exchange policies. Proceeds from the offering will be used for general corporate purposes.
Cresval also announces that it proposes to effect a debt conversion to settle an aggregate $112,750 owing to insiders, which will result in the issuance of 2,255,000 common shares of the Company at a deemed price at $0.05/share.
Cresval is a junior copper and precious metals exploration company actively involved in three 100% owned projects situated near the productive Bralorne Gold camp in southwestern British Columbia.
For more information please visit www.cresval.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Lee Ann Wolfin”
Lee Ann Wolfin
President and Chief Executive Officer
Forward looking statements: Neither the 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. This release contains statements that are forward‐looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward‐looking statement.