MARCH 19, 2013 – MONTREAL, QUEBEC – CRITICAL ELEMENTS CORPORATION (TSX.V: CRE) (US OTCQX:CRECF) (FSE: F12) is pleased to announce that it has closed the second tranche of a non-brokered privateplacement, for an amount of $604,000.
The Company has issued 3,020,000 units of common shares at a price of $0.20 per share for grossproceeds of $604,000. Each unit consists of one common share priced at $0.20 and one half of onepurchase warrant. Each whole purchase warrant entitles the holder thereof to purchase one common shareof the Corporation for a period of 36 months at a price of $0.375 per share.
In respect to the second tranche of the private placement, the Company paid $31,780 in Finders Fees. Theamount of Finders fees paid on the first tranche of the private placement is $17,080 and not $2,800 asmentioned in the press release dated February 27, 2013.
Under applicable securities legislation and policies of the TSX Venture Exchange, the securities issued orissuable in the private placement are subject to a hold period of four months.
The proceeds of this private placement will be used for worKing capital and to pursue the feasibility study.
The private placement is subject to regulatory approval.
Paradox Public Relations