Cypress Development Corp.: Announces Private Placement
19.05.2015 | Globenewswire Europe
Vancouver, BC - May 19, 2015 - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) (the "Company") announces that it has arranged a non-brokered private placement of up to 4,166,667 units (the "Unit") at a price of $0.06 per unit to raise proceeds of up to $250,000. Each Unit consists of one common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one common share for a period of two years at a price of $0.08 per share.The Company intends to utilize the proceeds from this private placement to further advance its zinc and gold projects and for general working capital purposes.
A finder's fee of up to 7% cash and 7% non-transferable warrants (the "Finder's Warrants") may be paid in connection with part of this private placement. Each Finder's Warrant will entitle the finder to purchase a common share at a price of $0.08 per share for a period of two years from the closing date of the private placement.
The private placement is subject to TSX Venture Exchange acceptance.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metals exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada and Oregon, U.S.A. The Company has approx. 15 million share outstanding.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.
Cypress Development Corp.
"Don Huston"
DONALD C. HUSTON, President
For further information contact myself or:
Don Myers, Director
Cypress Development Corp.
Telephone: 604-687-3376, Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
Suite 1610 - 777 Dunsmuir Street
Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cypress Development Corp. via Globenewswire
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