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Crownia Holdings Announces Closing of Non-Brokered Private Placement
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VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 22, 2017 – Crownia Holdings Ltd. (TSX-V: CNH; OTCQB: CWNHF) (“Crownia” or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Financing”) raising gross proceeds of $408,000 by the issuance of 3,400,000 units (the “Unit”) at a price of CAD $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 CAD $0.15 per share for a period of 5 years from the closing date.
The Shares issued are subject to a statutory hold period expiring June 23, 2017.
The total proceeds from the Financing will be used by the Company for general working capital purposes. No finder’s fee has been paid pursuant to the Financing.
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.
On behalf of the Board of Directors,
FOR FURTHER INFORMATION PLEASE CONTACT:
Herrick Lau – CEO
1-778-331-2082
Herrick.lau@crowniaholdings.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 news release.