Cedar Mountain Announces Private Placement of Units

Cedar Mountain Exploration Inc. (the “Corporation” or “Cedar”) (CED:TSXV) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) of up to 5,000,000 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of $500,000 if fully subscribed. Each Unit shall consist of one common share of the Corporation (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share for a period of 24 months following the closing of the Offering (the “Exercise Period”) at an exercise price of $0.15 per Common Share in the first 12 months of the Exercise Period and at a price of $0.20 per Common Share for the remaining 12 months of the Exercise Period.  The Corporation may pay commissions or finder’s fees in accordance with the TSX Venture Exchange policies. 

The Units will be sold to qualified purchasers in British Columbia, Alberta, Ontario, and any other Canadian jurisdiction at the Corporation’s discretion, in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. Insiders of the Corporation may participate in the Offering.  All securities issued in connection with this Offering are subject to a four-month hold period.

The Corporation intends to use the proceeds from the Offering for general working capital.  The completion of the Offering is subject to TSX Venture Exchange and other regulatory approvals. 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About Cedar Mountain Exploration Inc.

Cedar is a junior mineral exploration company with gold, silver and base metal projects in Mexico and Canada.  It is evaluating global opportunities to expand its project portfolio.

Cedar is a member of the Discovery Group of Companies.

For more information contact:

Adrienne Ross
Cedar Mountain Exploration Inc.
Tel: (780) 437-6624
Email: adrienner@cedarmountainexp.com
Website: www.cedarmountainexp.com

Neither 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.

Sign up for the latest news and updates