12 June 2017
Vancouver – June 12, 2017 – CRYSTAL EXPLORATION INC. (the “Company” or “Crystal”) (TSXV: “CEI”) (OTCQB: “CYRTF”) announces an extension to the private placement previously announced on May 12, 2017. The Company proposes to complete a non-brokered private placement financing on a best efforts basis of up to 10 million units (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.18 for a period of 24 months from the date of issue of the warrant. In the event that the shares of the Company trade at a price greater than $0.25 per share for a period of 20 consecutive days, then the Company may deliver a notice to the warrant holders that they must exercise the Warrants with the next 30 days, or the Warrants will expire.
Proceeds from the private placement will be used for working capital and to advance gold and diamond projects located in Nunavut, Canada.