TORONTO, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Crystal Peak Minerals Inc. (Crystal Peak or theCompany) (TSXV: CPM, OTCQX: CPMMF) is pleased to announce that it issued 29,201,455 common shares in the capital of the Company (Common Shares) at a price of C$0.55 per Common Share following the election by EMR Capital Investment (No. 5B) Pte. Ltd. (EMR) to convert EMR’s US$12,000,000 convertible loan agreement. Crystal Peak has also issued 7,758,401 Common Shares to EMR at a price of C$0.21 per Common Share to settle the interest payment due, pursuant to the convertible loan agreement.
“EMR’s continued support is robust testimony to the value of the Sevier Playa project,” said John Mansanti, Chief Executive Officer of Crystal Peak. “We look forward to their ongoing participation, as well as to the support of all of our stakeholders, as we create value and advance this project. Pending completion of permitting and receipt of project finance, 2019 should be a big year for us as we prepare for construction.”
In prior news releases, Crystal Peak has indicated plans to complete all permitting and begin construction in Q4 2019, pending project financing.