TORONTO, Jan. 5, 2015 /CNW/ - CWN Mining Acquisition
Corporation ("CWN") (TSXV: CWN.P) is pleased to announce it
has completed its previously announced acquisition of an option to
acquire a 100% undivided interest in certain mining claims situated
in the Whitehorse Mining District, Yukon,
Canada, generally and collectively known as the "TOP
Project" from YES Exploration Syndicate Inc ("YES
Exploration"), net of a 2% royalty reserved for YES Exploration
(the "Transaction"). The Transaction constitutes
CWN's Qualifying Transaction as defined under TSXV Policy 2.4 –
Capital Pool Companies.
CWN is also pleased to announce it has completed its concurrent
non-brokered private placement consisting of 8,000,000 common
shares (the "Shares") at a purchase price of $0.50 for gross proceeds of $4,000,000 (the "Private Placement"). All
Shares issued pursuant to the Private Placement will be subject to
a statutory hold period in accordance with applicable securities
legislation.
About CWN
CWN is a mineral exploration company incorporated under the
Canada Business Corporations Act with its head office in
Vancouver, British Columbia. The
business of CWN is to further explore the TOP Project property with
the objective of confirming and expanding the extent of
mineralization on the property. CWN expects the common shares of
the company will commence trading on Tier 2 of the TSXV under the
symbol "CWN" effective January 6,
2015.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE CWN Mining Acquisition Corporation