Update to Terms of Private Placement
CROSS RIVER VENTURES CORP.
Suite 1012, 1030 West Georgia Street Vancouver, British Columbia V6E 2Y3
NEWS RELEASE UPDATE TO TERMS OF PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Vancouver, British Columbia, Canada – February 13, 2024 – Cross River Ventures Corp. (the “Company” or “Cross River”) (CSE: CRVC) (FRA:C6R) announces that it has updated the terms to it’s previously announced private placement (see news release dated February 5, 2024).
The non-brokered private placement (the “Private Placement”) will now consist of up to 55,000,000 units (the “Units”) at a price of $0.005 per Unit for gross proceeds of up to $275,000. Each Unit will be comprised of one common share (a “Share”) and one half of one Share purchase warrant (a “Warrant”) with each whole Warrant entitling the holder to purchase one Share of the Company at a price of $0.05 per Share for a period of 24 months from the date of closing of the Private Placement.
The Company intends to use the proceeds from the Private Placement for general working capital purposes.
Closing of the proposed Private Placement is anticipated to occur on or about March 1, 2024 and is subject to receipt of all necessary regulatory approvals including acceptance of the Canadian Securities Exchange. All securities issued under the Private Placement will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from closing of the Private Placement.
About the Company
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.
Sam Wong CEO [email protected] www.crossriverventures.com
The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.