The Prospector News

Cypress Development Receives $6.9 Million From Warrant Exercise

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Cypress Development Receives $6.9 Million From Warrant Exercise






Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) is pleased to announce that for the period October 1st,  to November 29th, 2021, the Company has received $6,949,791 from the exercise of 4,741,189 warrants. The warrants had exercise prices of up to $1.75. The funds from the warrant exercise are in addition to the $19.8 million cash that the Company held on September 30, 2021.


The Company issued 15,640,000 warrants with an exercise price of $1.75 as part of its bought deal financing in March 2021. As of November 29, 2021, the Company’s outstanding warrant position was 12,262,253 warrants of which 11,879,100 are at an exercise price of $1.75 and 383,153 are exercisable at $1.25.


“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 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America’s only lithium brine operation. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in August 2020.


Posted December 1, 2021

Share this news article


Omai Intersects Gold in Broccoli Hill Trenches and Drill Holes

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce explorat... READ MORE

January 19, 2022

Monument Announces Burnakura Phase 1 Assay Results Including High-Grade Gold at Junction Target

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

January 19, 2022

Doré Copper Intersects 3.7 Meters at 9.41% Copper, 2.84 g/t Gold and 36.5 g/t Silver at Corner Bay – Continues to Expand Deposit

Doré Copper Mining Corp. (TSX-V: DCMC) (OTCQX: DRCMF) (FRA: DCM) is ple... READ MORE

January 19, 2022

Golden Tag Drills 272 g/t Ag.Eq over 7.8 m & 100 g/t Over 322.9 m Extending Endoskarn Zone 50 m SW

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) is pleased to anno... READ MORE

January 19, 2022

Barrick Delivers on Production Targets for the Third Consecutive Year

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced prelimin... READ MORE

January 19, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News