Critical Elements Corporation Announces Final Closing of It's Financing
March 30 2011 - 2:03PM
Marketwired
Critical Elements Corporation (TSX VENTURE: CRE) (OTCQX: CRECF)
(FRANKFURT: F12) is pleased to announce that it has closed of a
non-brokered private placement for an additional $150,000, bringing
the total financing to $1,624,200 (see press release dated March 4
and 18, 2011).
The Company issued 500,000 common share units at a subscription
price of $0.30 per unit for total gross proceeds of $150,000. Each
unit consists of one common share priced at $0.30 and half a
warrant. Each warrant entitles its holder to purchase one common
share of the Company at $0.45 for a 12-month period following the
closing of the private placement.
The common shares are subject to a four-month hold period from
closing.
The proceeds of this private placement will be used for working
capital and/or property development purposes.
The Company has sufficient funds to complete the prefeasibility
study and continue its efforts to increase the resource on the Rose
project. An exploration program is also planned for its projects in
British Columbia.
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.
Contacts: Critical Elements Corporation Jean-Sebastien Lavallee,
P.Geo. President and Chief Executive Officer 819-354-5146
president@cecorp.ca www.cecorp.ca Relations publiques Paradox
514-341-0408
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