Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) has announced a non-brokered private placement of up to 4,000,000 units at a price of $0.12 per unit ("Unit") to raise gross proceeds of up to $480,000. Each Unit will consists of one common share and one non-transferable share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase an additional common share for a period of one year at a price of $0.15 per share from the closing date of the private placement.
A finder's fee of 7% in cash and 7% in non-transferable warrants ("Finder's Warrant") may be paid in connection with part of this private placement. Each Finder's Warrant will entitle the finder to purchase a common share of Cypress at a price of $0.15 per share for a period of one year from the closing date of the private placement.
Cypress intends to utilize the proceeds of this private placement for continued exploration on its lithium properties in Nevada.
Cypress Development Corp. has approx. 24.1 million shares issued and outstanding.
If you would like to participate in the financing, please contact Don Huston, President, at 604-639-3852 or Don Myers, Director, at 604-639-3851 or info@cypressdevelopmentcorp.com.
Cypress Development Corp. presentation http://www.cypressdevelopmentcorp.com/i/pdf/CYP_PPT.pdf
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.
About Cypress Development Corp.:
Cypress Development Corp. (TSX-V: CYP) is a publicly traded lithium and zinc-silver exploration company advancing projects in the State of Nevada, U.S.A.
Cypress' Clayton Valley Lithium Project is located in the heart of the Clayton Valley lithium brine exploration area of Esmeralda County, Nevada. The Company's 1520 acre Clayton Valley Project is located within 0.5 mile south of lithium brine wells belonging to the Albemarle Silver Peak Mine and the property shares its western boundary with Pure Energy's Northern Resource Area. 2016 sampling results show 2 kilometers of north-south strike of outcropping claystones that assay approximately 1,100 ppm Li on average and include a 1.0 kilometer strike length zone that averages 1350 ppm Li. The outcropping claystones are believed to represent uplifted portions of the stratigraphy within which the lithium brines of the basin are found and produced. A planned drilling program targeting lithium rich brines at Cypress' Clayton Valley Project will also include shallow holes targeting the wide areas of lithium rich claystones discovered at surface.
Cypress Clayton Valley Lithium Project, Nevada location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
Cypress Development's mission is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.
You can view the Previous News Releases item: Wed May 25, 2016, Cypress Reports 95% Recovery of Lithium from Leach Test of Surface Claystones at Clayton Valley Project, Nevada using a Weak Acid Assay Method
