Cypress Development Corp. - News Releases - Cypress Development Arranges Flow-Through Private Placement

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Cypress Development Corp.
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia V6C 3E8

Email: info@cypressdevelopmentcorp.com
TSX Venture Trading Symbol: CYP Telephone: (604) 687-3376
Facsimile: (604) 687-3119

	Tue Nov 24, 2009 Cypress Development Arranges Flow-Through Private Placement
	Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) announce that it has arranged a non-brokered private placement to raise up to $750,000 by the issuance of 5,000,000 flow-through units at a price of $0.15 per unit. Each flow-through unit consists of one flow-through common share and one non-transferable share purchase warrant. Each share purchase warrant entitles the holder to purchase a non flow-through common share of the Company at a purchase price of $0.20 per warrant share for a period of two years from the date of closing of the private placement. The Company may pay up to a 7% cash finder's fee in connection with part of this private placement offering. The Company intends to utilize the proceeds from the private placement on the Company's continuing winter drill program on its Broulan Reef Gold property located in Red Lake, Ontario. The private placement is subject to the acceptance of the TSX Venture Exchange. About Cypress Development Corp.: Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A. To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com ON BEHALF OF THE BOARD OF DIRECTORS "Jim Pettit" JAMES G. PETTIT Director For further information contact myself or: Don Myers Director Cypress Development Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@cypressdevelopmentcorp.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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