Critical Reagent Announces Non-Brokered Private Placement
January 9 - Critical Reagent Processing Corp. (CSE: CRPC) (OTC: GRXXF) (Frankfurt: G0A) announces a non-brokered private placement (the "Private Placement") of up to 3,500,000 common shares (the "Shares") at $0.0675 per Share for gross proceeds of up to $236,250. The Private Placement is subject to approval of the Canadian Securities Exchange, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months from the date of closing of the Private Placement.
The Company intends to use the net proceeds of the Private Placement for general working capital.
About Critical Reagent Processing Corp.
Critical Reagent Processing Corp. (CRPC) has completed its purchase option agreement to acquire up to a 100% interest in the Mina Laguna Santa Maria project, which consists of two mining concessions licensed for the production of sodium carbonate, "Soda Ash". Pursuant to the option agreement, the Company is now the holder of 100% of No 17.643 Ignacio VI and 86% of No 1.255 Santa Maria and has filed documentation to obtain the remaining 14% of No 1.255 Santa Maria, located in Salta Province, Argentina. The 500-hectare property hosts a natural deposit of sodium carbonate, or soda ash. Soda ash is a necessary reagent for the production of lithium carbonate. The U.S. Geological Survey reported in 2022, 165,000 tonnes of soda ash were exported from the United States to Argentina, with a value of $US 48 million. CRPC believes the Laguna Santa Maria Project holds a competitive advantage over soda ash importation into Argentina as it is located in country, and in an area of significant lithium carbonate production and project development. Management is continuing to evaluate the property and market for soda ash in Argentina. Results of a bulk sample chemical evaluation are expected shortly.
ON BEHALF OF THE BOARD
Adrian Hobkirk
President and CEO
T: 954-684-8040
E: info@crpc-corp.com
W: www.crpc-corp.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
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