|November 05, 2004|
Crowflight Completes $5 Million Financing
|TORONTO: CROWFLIGHT MINERALS INC. (TSX-V:CML) announced today that it has closed its previously announced non-brokered private placement of 5,880,713 units at a price of $0.35 per unit for gross proceeds of $2,058,250. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at the price of $0.50 for a period of two years.|
In addition, Crowflight completed its offering of 7,335,000 flow-through units at a price of $0.40 per flow-through unit for gross proceeds of $2,934,000. Each flow-through units consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at the price of $0.60 for a period of two years.
Crowflight - The Base Metal Builder
Crowflight is a Canadian junior mining exploration company listed on the TSX Venture Exchange focused on Nickel, Copper and Platinum Group Minerals exploration in the Thompson Nickel Belt and Sudbury Basin. The company currently owns and has under option more than 365 km2 in Manitoba and Ontario, containing three highly prospective properties in the Thompson Nickel Belt - Bucko-Bowden, Resting Lake and Halfway Lake, and six in Sudbury - AER Kidd, Airport Property (a joint venture with Millstream Mines Ltd.), Marble Mountain Option, Copenhagen Option, Mystery Offset Dyke Option and Peter's Roost.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".
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