Critical Elements Announces Gypsy Swap
February 22, 2013 (Source: Critical Elements) Montreal, QC — Critical Elements Corporation (TSX.V: CRE) (US OTCQX: CRECF) (FSE: F12) reports that a Director of the Company have arranged a sale of 500,000 common shares at a price of $0.205 per share, to a European institution, through the facilities of the TSX Venture Exchange. The proceeds from this sale will be used to fund a private placement of 7,000,000 units of the Company at a price of $0.20 per unit Each unit includes one common share at a price of $0.20 per share and one-half share purchase warrants of the Corporation. Each whole warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 36 months at a price of $0.375 per share.
The proceeds of this private placement will be used for worKing capital and to pursue the feasibility study. The private placement is subject to regulatory approval.
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