CORRECT!
Cypress Closes $1,500,000 of Private Placement with MineralFields Group
Vancouver, BC -- Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) announces that it has completed the first tranche closing of a non-brokered private placement initially announced November 26, 2008 of 8,571,424 flow-through units ("FT Units") at a price of $0.175 per FT Unit to the MineralFields Group.
The funds raised will be applied to the continuing winter drill program on the Company's Broulan Reef gold project located in Red Lake, north-western Ontario.
The common shares comprising the units and any shares acquired on exercise of the warrants forming part of a unit will be subject to a four month restriction on re-sale, expiring on April 16, 2009.
Once the "BOYS" have finished, IMO things should begin to look a lot better.
We have held our own considering. Interesting to see what happens just before close.
It is discouraging when this happens, but just hang in there. Fresh set of legs coming over the boards to play in the game.
TH