(TheNewswire)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / October
15, 2018 – Crownia Holdings Ltd. (TSX-V: CNH; OTCQB: CWNHF) (“Crownia” or the “Company”) is pleased to announce that the Company
has closed a tranche (the “First Tranche”) of the non-brokered private
placement announced on October 11, 2018 (the “Offering”). The Company issued 1,744,531 units (each a “Unit”) at a price of $0.20
per Unit for gross proceeds of $348,906.20. Each Unit consist of one common share (a “Share”) of the Company and one
half of one (1/2) transferable share purchase warrant (the “Warrant”). Each Warrant will entitle the holder
to acquire one common share (a “Warrant Share”) of the Company until the date which is three (3) years from the closing date at a
price of $0.35 per Warrant Share.
The securities issued pursuant to the First Tranche are subject to a statutory hold period expiring
February 15, 2019.
The net proceeds from the First Tranche will be used by the Company for corporate purposes and
general working capital.
The Company may close subsequent tranches under the current terms of the Offering. Completion of any
subsequent tranches of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory
approvals, including approval of the TSX Venture Exchange.
About Crownia Holdings Ltd.
As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products
that best suit customer needs, establishing distribution centers in optimal locations, and providing superior sales and after-sale
services to customers.
On behalf of the Board of Directors,
Crownia Holdings Ltd.
“Xizhou Tong”
Xizhou Tong
Chairman and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Xizhou Tong – Chairman and CEO
1-604-688-9588
xizhou.tong@crowniaholdings.com
Neither 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 news
release.
Forward-looking information
This press release may contain “forward-looking information” within the meaning of applicable
Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking
information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”
“expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain
actions, events or results may, could, would, or might occur or be achieved. This forward-looking
information in respect of the Company reflects the Company’s as the case may be, current beliefs and is based on information
currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to
be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers
should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements
contained in this press release are expressly qualified by this cautionary statement.
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