Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) ("Cypress" or the "Company") is pleased to announce, due to investor demand, it has increased its previously announced non-brokered private placement of Units to up to $1,400,000 CDN. The Units are being offered at a price of C$0.10 per Unit with each Unit consisting of one common share of the Company and one common share purchase Warrant. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.13 for a period of 24 months following the closing of the offering. Please see the Company's press releases of September 13, 20th, and October 2nd for further details regarding the offering.
The Company intends to utilize the proceeds from the private placement to complete a drilling program on Cypress' 100% held Dean and Glory Lithium Projects in Clayton Valley, Nevada and for general working capital purposes. The private placement is subject to TSX Venture Exchange acceptance.
Cypress Clayton Valley, Nevada Lithium Projects location map:
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc exploration company that continues to acquire and develop potentially viable mineral projects in the State of Nevada, U.S.A.
Cypress Development Corp. has approx. 35.5 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
DONALD G. MYERS
For further information contact myself or:
Cypress Development Corp.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.