Crestview Exploration Inc (CSE:CRS) told investors it has closed the first tranche of a non-brokered private placement financing, subject to Canadian Securities Exchange approval.
The company said it raised $104,240 through the issuance of 1,303,000 units for $0.08 each. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable into an additional share for $0.16 for two years from the date of issuance.
It said it intends to use the proceeds of the offering for its Nevada properties claim renewal, permitting, and general corporate purposes.