Cross River Announces Closing of Second Tranche of Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - December 8, 2022) - Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) (the "Company") announces that it has closed a second tranche of a non-brokered private placement offering (the "Offering") of common shares (each, a "Share") of the Company for gross proceeds of $311,000. In connection with closing of the second tranche of the Offering, the Company issued 10,366,667 Shares at a price of $0.03 per Share.

In connection with the Offering, the Company paid finders' fees of $12,480 to certain arms-length parties who assisted in introducing subscribers to the second tranche. All securities issued under the second tranche of the Offering are subject to a statutory hold period until April 9, 2023.

About Cross River Ventures Corp.

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.

Alex Klenman
CEO
604-227-6610
aklenman@crossriverventures.com

John Fraser
President
604-227-6610
jfraser@crossriverventures.com

www.crossriverventures.com

Cautionary Note Regarding Forward-Looking Information

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Canadian Securities Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147386

info