TSXV: CYP | OTCQB: CYDVF
VANCOUVER, BC, Sept. 22, 2021
/CNW/ - Cypress Development Corp. (TSXV: CYP) (OTCQB:
CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is
pleased to announce that the Company has acquired through a
Purchase Agreement ("Agreement") 24 unpatented mining claims in
Clayton Valley, Nevada, bringing
the Company's land holdings to 6558 acres in total. The newly
acquired claims, which total 480 contiguous acres, are proximal to
the Company's Clayton Valley Lithium Project. The claims were
acquired for their exploration potential for lithium-bearing
claystone and brine.
Terms of the Agreement
The purchase price for 100% interest in the claims, acquired
from a private party vendor, is to be paid through the issuance of
49,000 Cypress shares, due upon closing. The claims have no
retained or underlying royalties. The Agreement is subject to terms
and conditions customary for a transaction of this nature,
including TSX Venture Exchange approval of the Share Issuance.
About Cypress Development Corp:
Cypress Development Corp. is a Canadian advanced stage
lithium exploration company, focused on developing its 100%-owned
Clayton Valley Lithium Project in Nevada,
USA. Work completed by Cypress led to the discovery of a
world-class resource of lithium-bearing claystone adjacent to the
Albemarle Silver Peak mine, North
America's only lithium brine operation. The results of a
positive Pre-Feasibility Study for the Clayton Valley Lithium
Project were announced by Cypress Development in August 2020. Cypress Development trades on the
TSX Venture Exchange under the symbol CYP, and on the OTCQB under
the symbol CYDVF.
ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cypress-development-acquires-strategic-mining-claims-in-clayton-valley-nevada-301382257.html
SOURCE Cypress Development Corp.