Vancouver, British Columbia--(Newsfile Corp. - November 22, 2022) - Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) (the "Company") announces that it has closed an initial tranche of a non-brokered private placement offering (the "Offering") of common shares (each, a "Share") of the Company for gross proceeds of $275,000. In connection with closing of the initial tranche of the Offering, the Company issued 9,166,665 Shares at a price of $0.03 per Share. The Company intends to complete a further tranche of the Offering, on the same terms as the initial tranche, and will provide a further update once closing of this further tranche has been completed.
No finders' or commissions were paid in connection with completion of the initial tranche of the Offering. The Company may pay finders' fees to eligible parties who assist in introducing subscribers to a further tranche of the Offering. All Shares issued under the initial tranche of the Offering are subject to a statutory hold period until March 23, 2023.
About Cross River Ventures Corp.
Cross River is a gold exploration company focused on the development of top tier exploration properties located in emerging Greenstone Districts of NW Ontario, Canada. The Company controls over 20,000-ha within a multiple project portfolio containing highly prospective ground in and among prolific, gold bearing greenstone belts. Cross River's common shares trade in Canada under the symbol "CRVC" on the CSE, and in the US under the symbol "CSRVF" on the OTCQB. Please visit www.crossriverventures.com for more information.
On behalf of the Board of Directors of
CROSS RIVER VENTURES CORP.
Alex Klenman
CEO
604-227-6610
aklenman@crossriverventures.com
John Fraser
President
604-227-6610
jfraser@crossriverventures.com
Cautionary Note Regarding Forward-looking Information
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Canadian Securities Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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 securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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