Vancouver, British Columbia--(Newsfile Corp. - September 3, 2020) - Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) ("Cross River" or the "Company") announces its intention to carry out a non-brokered private placement for gross proceeds to the Company of up to $1,750,000 (the "Offering").
Assuming the closing of the Offering, the Company will issue an aggregate of up to 7,000,000 Units (the "Units") at a price of $0.25 per Unit. Each Unit will consist of one common share and one half common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share for a period of two years from the date of closing of the Offering at a price of $0.40 per common share.
The Company may pay finder's fees and/or commissions to eligible persons in connection with the Offering in accordance with the policies of the Canadian Securities Exchange.
The Company will use the net proceeds of the Financing to advance its exploration projects and for working capital purposes.
Cross River currently has 8,423,500 common shares issued and outstanding.
In accordance with securities legislation, all securities issued under the Offering will be subject to a four month and one day hold period from the date of issuance. Closing of this Offering is subject to all necessary regulatory approvals including those of the Canadian Securities Exchange.
About the Company
Cross River is a gold and silver exploration company that is primarily engaged in the acquisition and evaluation of precious metals exploration properties. The Company owns an option to acquire a 100% undivided interest in the Tahsis Property, an early-stage gold exploration property located on Northern Vancouver Island, in the Nanaimo Mining Division, British Columbia. Cross River's common shares trade under the symbol "CRVC" on the CSE.
On behalf of the Board of Directors of
CROSS RIVER VENTURES CORP.
John Fraser,
CEO
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604-227-6610
No securities regulatory authority has either approved or disapproved of the contents of this press release
