Critical Elements Corporation Announces Final Closing of It's Financing
MONTREAL, QUEBEC -- (Marketwire) -- 03/30/11 -- Critical Elements Corporation (TSX VENTURE: CRE) (OTCQX: CRECF) (FRANKFURT: F12) is pleased to announce that it has closed of a non-brokered private placement for an additional $150,000, bringing the total financing to $1,624,200 (see press release dated March 4 and 18, 2011).
The Company issued 500,000 common share units at a subscription price of $0.30 per unit for total gross proceeds of $150,000. Each unit consists of one common share priced at $0.30 and half a warrant. Each warrant entitles its holder to purchase one common share of the Company at $0.45 for a 12-month period following the closing of the private placement.
The common shares are subject to a four-month hold period from closing.
The proceeds of this private placement will be used for working capital and/or property development purposes.
The Company has sufficient funds to complete the prefeasibility study and continue its efforts to increase the resource on the Rose project. An exploration program is also planned for its projects in British Columbia.
Neither the 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 release.
Contacts:
Critical Elements Corporation
Jean-Sebastien Lavallee, P.Geo.
President and Chief Executive Officer
819-354-5146
president@cecorp.ca
www.cecorp.ca
Relations publiques Paradox
514-341-0408