Cypress Development Receives $6.9 Million From Warrant Exercise
Cypress Development Corp. (OTCQB: CYDVF) reported a significant cash inflow of $6,949,791 from the exercise of 4,741,189 warrants between October 1 and November 29, 2021. This addition boosts their cash reserves, which were $19.8 million as of September 30, 2021. The warrants, initially issued during a financing deal in March 2021, had an exercise price of $1.75. The company currently holds 12,262,253 outstanding warrants, maintaining a strong financial position for future developments.
- Increased cash position by $6,949,791 without share dilution.
- Total cash reserves reached approximately $26.7 million.
- Strong financial position supports future project developments.
- None.
TSXV: CYP | OTCQB: CYDVF
VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ - Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to announce that for the period October 1st, to November 29th, 2021, the Company has received
The Company issued 15,640,000 warrants with an exercise price of
"These cash injections significantly increase the Company's reported cash position without any dilution to the current shareholding structure," commented President and CEO Bill Willoughby. "With a strong treasury, the Company is in excellent position to execute upon its plans for the coming year."
About Cypress Development Corp
Cypress Development Corp. is a Canadian advanced stage lithium exploration company, focused on developing its
ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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SOURCE Cypress Development Corp.
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