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Crown Mining Corp

Exchange: TSXV Exchange | Oct 21, 2017, 3:30 PM EDT

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Stephen Dunn Acquires Ownership of Securities of Crown Mining Corp.

Toronto, Ontario--(Newsfile Corp. - September 7, 2017) - Stephen Dunn of Toronto, Ontario, announces that he has indirectly acquired ownership and control of 1,000,000 units ("Units") of Crown Mining Corp. (TSXV: CWM) (the "Reporting Issuer"), with each Unit comprised of one common share in the capital of the Reporting Issuer (each, a "Share") and one Share purchase warrant (each, a "Warrant"), each such Warrant entitling the holder thereof to acquire one additional Share at a price of $0.15 at any time prior to September 5, 2020. The 1,000,000 Units were acquired at a price of $0.10 per Unit as part of a private placement of 2,635,000 Units by the Reporting Issuer (the "Offering").

Prior to the Offering, Mr. Dunn had beneficial ownership and control of an aggregate of 5,730,339 Shares, representing approximately 19.79% of the issued and outstanding Shares on a non-diluted basis. Mr. Dunn also had beneficial ownership and control of 300,000 stock options ("Options") exercisable for 300,000 Shares at a price of $0.10 per Share until April 8, 2018, 50,000 Options exercisable for 50,000 Shares at a price of $1.00 per Share until July 31, 2018, 200,000 Options exercisable for 200,000 Shares at a price of $0.10 per Share until April 13, 2019 and 100,000 Options exercisable for 100,000 Shares at a price of $0.10 per Share until February 28, 2020, representing approximately 27.96% of the outstanding Options. In addition, Mr. Dunn had 1,000,000 Warrants to purchase one additional Share at a price of $0.15 at any time prior to February 12, 2019, 550,000 Warrants to purchase one additional Share at a price of $0.15 at any time prior to May 10, 2019 and 319,550 Warrants to purchase one additional Share at a price of $0.20 at any time prior to February 28, 2019, which represents approximately 18.39% of the outstanding Warrants.

Immediately following the Offering, Mr. Dunn has beneficial ownership and control of 6,730,339 Shares, which represents approximately 21.31% of the issued and outstanding Shares on a non-diluted basis, and beneficial ownership and control of 650,000 Options, which represents approximately 27.96% of the outstanding Options and 2,869,550 Warrants, which represents approximately 22.42% of the outstanding Warrants.

Assuming the exercise of the Options and Warrants, the Mr. Dunn would directly and beneficially own and control an aggregate of 10,249,889 Shares, representing approximately 29.20% of the issued and outstanding Shares on a partially-diluted basis.

The details of Mr. Dunn's interests in the Reporting Issuer following the Offering are as follows:

  • 834669 Ontario Ltd. ("834669"), owns 3,032,239 Shares, or approximately 9.60% of the issued and outstanding Shares on a non-diluted basis. 834669 also holds 500,000 Warrants, or approximately 3.91% of the outstanding Warrants; and

  • Mr. Dunn is the registered owner of 3,698,100 Shares, or approximately 11.71% of the issued and outstanding Shares on a non-diluted basis. Mr. Dunn holds 650,000 Options, or approximately 27.96% of the outstanding Options. Mr. Dunn also holds 2,369,550 Warrants, or approximately 18.51% of the outstanding Warrants.

Mr. Dunn is the ultimate sole beneficial shareholder of, and exercises complete voting control over, 834669.

The Shares, options and the Warrants directly and indirectly held by Mr. Dunn, including those underlying the 1,000,000 Units indirectly purchased by Mr. Dunn, are being held for investment purposes. In the future Mr. Dunn may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of the Reporting Issuer.

The purchase of these Units by Mr. Dunn directly or indirectly were made under the "Accredited Investor" exemption contained in section 2.3 (1) of National Instrument 45-106 Prospectus and Registration Exemptions.

For further information or to obtain a copy of the relevant early warning report, please contact:

Stephen Dunn
834669 Ontario Ltd.
Telephone: (416) 822-3343

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