VANCOUVER, British Columbia, Aug. 22, 2017 (GLOBE NEWSWIRE) — CNRP Mining Inc. (CSE:CND) (OTC Pinks:CRPGF) (“CNRP” or the “Company”), is pleased to announce that further to the Company’s press release on July 21, 2017 and in conjunction with its non-binding letter of intent (the “LOI”) to acquire X-SRAYS (the “Transaction”), it has advanced USD $300,000 to X-SPRAYS. Furthermore, CNRP anticipates signing a definitive agreement for the acquisition in September 2017.
dThrough the Transaction CNRP will acquire all of the issued and outstanding shares of 1127466 B.C. Ltd. which holds, through a wholly owned subsidiary, a world-wide, exclusive license for X-SPRAYS – a brand of state-of-the-art life-enhancement products administered via an optimal oral spray delivery system.
The Transaction remains subject to certain closing conditions, including, completion of due diligence, the negotiation and signing of a definitive agreement and obtaining all necessary approvals, including, approval of the respective boards, the approval of the CSE, and if applicable, shareholders of the Company. There can be no guarantees that the Transaction will be completed as proposed or at all.
Private Placement
In connection with the Transaction, the Company is also pleased to announce that it intends to close its previously announced non-brokered private placement offering of up to 10,000,000 shares (the “Shares”) at a price of $0.30 per Share for gross proceeds of up to $3,000,000 (the “Offering”) in early September 2017.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions.
The Company confirms that it has no relationship with MarijuanaStocks.com and did not solicit or pay a fee to them for the recent article they posted touting CNRP Mining Inc.
ON BEHALF OF THE BOARD
“Randy Clifford”
CEO
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.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, please contact:
Randy Clifford
Telephone: 780-466-6006
Email: info@cnrpmining.com
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