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VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 14, 2015) - Cypress Development Corp. (TSX VENUTRE:CYP)(OTC PINK:CYDVF)(FRANKFURT:C1Z1) ("Cypress" or the "Company") is pleased to announce the completion of the non-brokered private placement announced May 29, 2015 and as a result has issued 2,700,000 (the "Units") at a deemed price of $0.05 per Unit. Each Unit consists of one common share and one non-transferrable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.07 per share for a period of five years expiring July 9, 2020. Shares issued in connection with this private placement including any shares issued as a result of the exercise of any Warrants will be subject to a four month hold period expiring November 10, 2015. Aggregate finder's fees of $700 cash and 14,000 agents warrants ("Agent Warrants") has been paid in connection with this offering. The Agent Warrants are subject to the same terms and conditions as the subscriber Warrant. |
