VANCOUVER, British Columbia, Oct. 18, 2017 (GLOBE NEWSWIRE) — Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce that, further to its news releases of September 13, September 20, October 2 and October 5, the Company has closed its non-brokered private placement and issued 14,164,840 units (each, a “Unit”) at a subscription price of CAD $0.10 per Unit for gross proceeds of CAD $1,416,484. Each Unit consists of one common share of the Company and one share purchase warrant (a “Warrant”).