(TheNewswire)
January 21, 2019 / TheNewswire / Vancouver,
Canada: CROPS Inc. (TSXV:COPS) is pleased to announce that it has closed its previously announced
private placement financing with the issuance of 11,180,000 units at $0.05 per unit, for proceeds of $559,000. Each unit
consists of one common share and one warrant entitling the holder to purchase one additional common share of the Company at $0.05
for one year from closing.
In connection with this financing, the Company paid a cash finder’s fee of $250. The common
shares and warrants issued in the placement are subject to a resale restriction until May 16, 2019. The proceeds of the financing are intended to be used for general working capital purposes.
About CROPS
CROPS is developing the Bayovar 12 phosphate deposit located 40 km from the coast in the Sechura District of
northern Peru. Bayovar 12 hosts a large resource of highly-reactive sedimentary phosphate rock - a
key raw material input for phosphate fertilizers and vital to world food production. Reactive
phosphate rock from Sechura is a natural, slow-release source of phosphorus that can be applied directly to crops. As well,
elemental phosphorus from Bayovar 12 can be used in various industrial applications.
For further information, please visit our web site www.crop2o5.com.
ON BEHALF OF THE BOARD
Simon Ridgway, Chief Executive Officer
Symbol: TSXV-COPS
Shares Issued: 69.9 million
For further information, contact:
Gordon Tainton, President
Tel: 604-248-8380; Fax: 604-682-1514
Email: info@crop2o5.com
Website: www.crop2o5.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the
meaning of Canadian securities legislation. All statements included herein, other than statements of
historical fact, are forward-looking statements and include, without limitation, statements about the Company’s Bayovar 12 project,
and the private placement use of proceeds. Often, but not always, these forward looking statements
can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”,
“projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”,
“remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions,
including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be materially different from any results, performance
or achievements expressed or implied by forward-looking statements. Such uncertainties and factors relate to, among other
things, information regarding the Company’s plans for the Bayovar 12 project; the expenditure of the private placement proceeds as
planned; changes in general economic conditions and financial markets; the Company or any joint venture
partner not having the financial ability to meet its exploration and development goals; risks associated with the results of
exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits;
unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual
filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and
opinions of management, including but not limited to: that the Company’s stated goals for the Bayovar 12 project will be achieved;
that the Company will spend the private placement proceeds as planned; that there will be no material adverse change affecting the
Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date
hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, investors should not place undue reliance on forward-looking statements.
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