Cresval Capital Corp.
TSX VENTURE : CRV

Cresval Capital Corp.

September 09, 2010 14:28 ET

Cresval Capital Corp. Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2010) - Cresval Capital Corp. ("Cresval") (TSX VENTURE:CRV) is pleased to announce that it has closed a non-brokered private placement originally announced on July 20, 2010, raising aggregate proceeds of $353,000 through the sale of 3,530,000 units.

Common Share Units:
The Company placed 1,030,000 common share units (the "Units") for gross proceeds totalling $103,000. Each Unit consists of one common share and one non-transferable common share purchase warrant. Each warrant will allow the holder to purchase one additional common share in the Company for a period of two years at a price of $0.15 per share.

Flow through Units:
The Company placed 2,500,000 flow-through units (the "FT Units") for gross proceeds totalling $250,000. Each FT Unit consists of one flow-through share and one non flow-through common share purchase warrant. Each warrant will allow the holder to purchase one common share in the company for a period of two years at a price of $0.15 per share. Cresval will incur and renounce qualifying Canadian Exploration Expenditures under the Income Tax Act (Canada) to purchasers of the flow-through common shares in an amount equal to the subscription price of such shares.

Net proceeds from the FT Units will be used to finance continued exploration on its 100% owned Bridge River project, located in the Lillooet Mining Division of South-western British Columbia, 40 Kilometres northwest of Goldbridge, British Columbia and exploration of the 100% owned New Raven Project located 15 Kilometres southwest of Lillooet, British Columbia. Net proceeds of the Units will be used for for general working capital requirements.

About Cresval:
Cresval is a junior gold, copper and precious metals exploration company actively involved in two 100% owned projects situated near Goldbridge in Southwestern British Columbia near the productive Bralorne Gold camp of British Columbia, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS OF CRESVAL CAPITAL CORP.

Lee Ann Wolfin, President

Forward looking statements: This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cresval Capital Corp.
    Lee Ann Wolfin
    President
    (604) 682-3701