Crownia Closes First Tranche of Non-Brokered Private Placement

Tickers: PINX:CWNHF, XTSX:CNH
Tags: Manufacturing

VANCOUVER, BRITISH COLUMBIA / TheNewswire / October 15, 2018 - Crownia Holdings Ltd. (TSX-V: CNH; OTCQB: CWNHF) ("Crownia" or the "Company") is pleased to announce that the Company has closed a tranche (the "First Tranche") of the non-brokered private placement announced on October 11, 2018 (the "Offering"). The Company issued 1,744,531 units (each a "Unit") at a price of $0.20 per Unit for gross proceeds of $348,906.20. Each Unit consist of one common share (a "Share") of the Company and one half of one (1/2) transferable share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to acquire one common share (a "Warrant Share") of the Company until the date which is three (3) years from the closing date at a price of $0.35 per Warrant Share.

The securities issued pursuant to the First Tranche are subject to a statutory hold period expiring February 15, 2019.

The net proceeds from the First Tranche will be used by the Company for corporate purposes and general working capital.

The Company may close subsequent tranches under the current terms of the Offering. Completion of any subsequent tranches of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.

About Crownia Holdings Ltd.

As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products that best suit customer needs, establishing distribution centers in optimal locations, and providing superior sales and after-sale services to customers.

On behalf of the Board of Directors,

Crownia Holdings Ltd.

"Xizhou Tong"

Xizhou Tong

Chairman and CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Xizhou Tong - Chairman and CEO

1-604-688-9588

xizhou.tong@crowniaholdings.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking information

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans" "expects" or "does not expect", "proposed", "is expected", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company reflects the Company's as the case may be, current beliefs and is based on information currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Copyright (c) 2018 TheNewswire - All rights reserved.

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