Cypress Hills Resource Corp. Announces C$50,000 Private Placement and Debt Settlement

Cypress Hills Resource Corp. is conducting a non-brokered private placement of up to C$50,000 and a debt settlement of C$15,750. The private placement involves issuing up to 1,000,000 shares at C$0.05 per share, while the debt settlement involves issuing 315,000 common shares at C$0.05 per share. Proceeds will be used for general corporate and working capital purposes. Closing is subject to regulatory and board approvals.

Cypress Hills Resource Corp. (CHY), a Canadian exploration company, recently announced a significant financing move aimed at bolstering its financial position and fueling its growth plans [1]. The company is currently conducting a non-brokered private placement and debt settlement, collectively raising up to C$1.85 million [1][2].

The private placement involves issuing up to 1,000,000 shares at C$0.05 per share, raising a maximum of C$50,000 [2]. Meanwhile, the debt settlement agreement entails the issuance of 315,000 common shares at the same price to settle a debt of C$15,750 [2]. The proceeds from both financings will be allocated towards general corporate and working capital purposes [1][2].

Although the private placement was initially announced for a larger amount of C$1,350,000 [1], recent updates indicate that the company has had to cancel part of the financing due to unspecified reasons [3]. The revised financing now stands at C$1.85 million, combining the private placement and debt settlement [2].

The private placement is subject to regulatory and board approvals and is expected to close in due course [2]. As per the terms of the financing, a finder's fee may be paid to eligible finders in accordance with the policies of the TSX Venture Exchange and applicable securities laws [1].

CHY's management team expressed their enthusiasm about the financing, stating that it would provide the company with the necessary resources to pursue additional project acquisitions and support its overall growth strategy [1].

Investors interested in learning more about Cypress Hills Resource Corp. and its financing initiatives can visit the company's website or contact its investor relations team [1].

References:
[1] boereport.com, 2023, Cypress Hills Resource Corp. Announces 1.35 Million Non-Brokered Private Placement Financing. [https://boereport.com/2023/04/17/cypress-hills-resource-corp-announces-1-35-million-non-brokered-private-placement-financing/]
[2] boereport.com, 2023, Cypress Hills Resource Corp. Conducting Non-Brokered Private Placement of up to C$50,000 and Debt Settlement of C$15,750. [https://boereport.com/2023/06/26/cypress-hills-resource-corp-cancels-1-35-million-non-brokered-private-placement-financing/]
[3] marketscreener.com, 2023, Cypress Hills Resource Corp. Announces 1-35 Million Non-Brokered Private Placement Financing. [https://www.marketscreener.com/quote/stock/CYPRESS-HILLS-RESOURCE-CO-49478317/news/Cypress-Hills-Resource-Corp-Announces-1-35-Million-Non-Brokered-Private-Placement-Financing-43531791/]