- Cypress issued a total of 15,640,000 units at a price of C$1.25 per unit for gross proceeds of C$19,550,000
- PI Financial Corp, as the sole underwriter and bookrunner, exercised the over-allotment option in full
- Proceeds are expected to be used to fund work on the company’s Clayton Valley Lithium Project in Nevada and for general working capital
- Cypress issued an aggregate of 938,400 broker warrants to the underwriter
- Cypress Development is an exploration company focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada
- Cypress Development Corp.(CYP) is down 0.80 per cent, trading at C$1.24 per share at 1:35 pm ET
Cypress Development Corp.(CYP) has closed its upsized bought deal public offering.
PI Financial Corp, as the sole underwriter and bookrunner, exercised the over-allotment option in full. As a result Cypress issued a total of 15,640,000 units at a price of C$1.25 per unit for gross proceeds of C$19,550,000.
Each unit consists of one common share and one warrant. Each warrant can be exercised for one common share at an exercise price of C$1.75 until March 22, 2024.
Net proceeds are expected to be used to fund ongoing work on the company’s Clayton Valley Lithium Project in Nevada and for general working capital purposes.
Cypress issued an aggregate of 938,400 broker warrants to the underwriter, each exercisable for one common share at the price of C$1.25 until March 22, 2024.
Cypress Development Corp. is a publicly-traded exploration company focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada.
Cypress Development Corp.(CYP) is down 0.80 per cent, trading at C$1.24 per share at 1:35 pm ET.
