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Crownia Holdings Announces Non-brokered Private Placement
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VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 8, 2017 – Crownia Holdings Ltd. (TSX-V: CNH; OTCQB: CWNHF) (“Crownia” or the “Company”) is pleased to announce that the Company intends to arrange a non-brokered private placement (the “Financing”) which is expected to raise gross proceeds of up to $408,000 by the issuance of up to 3,400,000 units (the “Unit”) at a price of $0.12 per Unit. Each Unit will consist of one common share (the “Common Share”) and one share purchase warrant (the “Warrant”), and each Warrant will entitle the holder thereof to purchase one additional Common Share of the Company at a price of $0.15 per share for a period of 5 years from the closing date. All securities issued pursuant to the Financing will be subject to a four month hold period from the date of issuance.
The proceeds from the Financing will be used for general working capital.
The closing of the Financing is subject to acceptance approval of the TSX Venture Exchange
As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products that best suit customer needs, establishing distribution centers in optimal locations, and providing superior sales and after-sale services to customers. For more information, please contact Gilbert Chan at (604)488-8878 or email ir@crowniaholdings.com.
On behalf of the Board of Directors,
FOR FURTHER INFORMATION PLEASE CONTACT:
Herrick Lau – CEO
1-778-331-2082
Herrick.lau@crowniaholdings.com
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans” “expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company reflects the Company’s as the case may be, current beliefs and is based on information currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release represent the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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 news release.