- Cypress Hills Resource (CHY) has arranged a non-brokered private placement for total gross proceeds of up to C$1,350,000
- The company plans to use the proceeds for additional project acquisitions and for general corporate and working capital purposes
- Cypress Hills is a Canada-based junior oil and gas exploration company
- Cypress Hills Resource Corp. (CHY) opened trading at C$0.11 per share
Cypress Hills Resource (CHY) has arranged a non-brokered private placement for total gross proceeds of up to C$1,350,000.
The private placement will consist of up to 15,000,000 shares at $0.09 per share.
The company plans to use the proceeds for additional project acquisitions and for general corporate and working capital purposes.
Cypress may pay 5 per cent cash commission as finder’s fee in connection with the private placement to eligible finders.
The financing is subject to approval of the Exchange. All securities issued will be subject to a four month hold period from the date of issuance.
About Cypress Hills Resource
Cypress Hills is a Canada-based junior oil and gas exploration company. It’s area of focus is the Province of Alberta and is pursuing opportunities in this area.
The company has an interest in a six-section block of Crown land which is located around 40 miles northwest of Peace River in the Hotchkiss area. It is also active in Wizard Lake/Thorsby area, located 50 miles north of Red Deer, Alberta, with 3 presently producing wells.
Cypress Hills Resource Corp. (CHY) opened trading at C$0.11 per share.
