Cross River Completes Initial Public Offering and Listing of Common Shares on CSE Under Symbol "CRVC"
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2020) - Cross River Ventures Corp. (CRVC: CSE) ("Cross River" or the "Company") is pleased to announce that it has completed its initial public offering ("IPO") on the Canadian Securities Exchange ("CSE"), which included the full exercise of the over-allotment option, pursuant to which it has sold 4,600,000 common shares of the Company (the "Offered Shares") at a price of $0.10 per Offered Share to raise gross proceeds of $460,000.
Haywood Securities Inc. ("Haywood") acted as Cross River's agent on a commercially reasonable efforts basis in respect of the IPO and received a cash commission equal to 8% of the gross proceeds of the IPO and a corporate finance fee. The Company also issued an aggregate of 368,000 agent's compensation options (the "Agent's Options") to Haywood and a selling group member, with each Agent's Option entitling the holder thereof to purchase one common share of the Company (a "Common Share") at a price of $0.10 per share for a period of two years.
The Company intends to use the net proceeds from the IPO to advance the Company's Tahsis Property located on Northern Vancouver Island, British Columbia, in the Nanaimo Mining Division, British Columbia and for general working capital purposes.
The Common Shares were listed for trading on the CSE on July 10, 2020 under the symbol "CRVC" and are expected to commence trading at the open on Tuesday, July 14, 2020.
About Cross River Ventures Corp.
Cross River is a mineral exploration company that is primarily engaged in the acquisition and evaluation of mineral exploration properties. The Company owns an option to acquire a 100% undivided interest in the Tahsis Property, an early-stage mineral exploration property located on Northern Vancouver Island, British Columbia, in the Nanaimo Mining Division, British Columbia. Cross River's common shares trade under the symbol "CRVC" on the CSE.
For more information, please contact:
Dan Placzek, Director
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