TORONTO, ONTARIO, Nov 10 (MARKET WIRE) --
Crown Minerals Inc. ("Crown" or the "Company") (TSX VENTURE: CWM) is
pleased to announce a proposed non-brokered private placement of up to
2,500,000 units at a price of $0.12 per unit (the "Offering"), for
aggregate gross proceeds of up to $300,000. Each Unit will be comprised
of one common share and one share purchase warrant, each such warrant
entitling the holder to purchase one common share for $0.18 at any time
within 18 months. All securities issued pursuant to this private
placement will be subject to a four (4) month hold period. Completion of
the private placement is subject to receipt of all required regulatory
and other approvals. The Company reserves the right to increase or
decrease the size of the Offering.
The gross proceeds from the Offering will be used to fund exploration
programs and operating costs including those in connection with the
Company's recently acquired gold properties in Whitney and Deloro
Townships near Timmins, Ontario and on Mackenzie Island near Red Lake,
Ontario.
For further information please contact: Mr. Stephen Dunn, President and a
Director of Crown Minerals Inc., by telephone: 416-822-3343 or by mail:
130 Adelaide Street West, Suite 2700, Toronto, Ontario M5H 3P5.
This press release shall not constitute an offer to sell or solicitation
of an offer to buy the securities in any jurisdiction. The flow-through
common shares will not be and have not been registered under the United
States Securities Act of 1933 and may not be offered or sold in the
United States absent registration or applicable exemption from the
registration requirements.
This press release contains forward-looking statements within the meaning
of applicable Canadian and U.S. securities regulation, including
statements regarding the future activities of the Company.
Forward-looking statements reflect the current beliefs and expectations
of management and are identified by the use of words including "will",
"anticipates", "expects", "expected to", "plans", "planned" and other
similar words. Actual results may differ significantly. The achievement
of the results expressed in forward-looking statements is subject to a
number of risks, including those described in the Company's management
discussion and analysis as filed with the Canadian securities regulatory
authorities which are available at www.sedar.com. Investors are cautioned
not to place undue reliance upon forward-looking statements.
Contacts:
Crown Minerals Inc.
Mr. Stephen Dunn
President and a Director
416-822-3343
Copyright 2009, Market Wire, All rights reserved.
-0-
