PRIVATE PLACEMENT CLOSED Bitterroot Resources Ltd.’s (symbol BTT, TSX-V) management announces that further to its press
BITTERROOT RESOURCES LTD.
Suite 206-B, 1571 Bellevue Avenue, West Vancouver, BC, V7V 1A6
tel 604 922 1351
www.bitterrootresources.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
NEWS RELEASE
May 10, 2021
PRIVATE PLACEMENT CLOSED
Bitterroot Resources Ltd.’s (symbol BTT, TSX-V) management announces that further to its press
releases dated April 27, 2021 and May 3, 2021, the Company has closed an oversubscribed non-
brokered private placement of 11,195,000 units of the Company at a purchase price of $0.10 per
unit, for aggregate gross proceeds to the Company of $1,119,500. Each unit consists of one
common share of the Company and one-half of one common share purchase warrant. Each whole
warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.20
until May 4, 2023.
The Company intends to use the majority of the proceeds to fund its 51% share of costs incurred
drilling approximately 15-20 additional holes on the LM magmatic nickel-copper-PGM property
in the Upper Peninsula of Michigan. Drilling at the LM Property is expected to resume in late May.
The balance of the funds will be used for working capital and for pre-drilling work on the 100%-
owned Coyote and Castle epithermal gold/silver properties in Nevada. Bitterroot’s US subsidiary
has received BLM Decisions allowing core drilling on the Castle property (up to 13 drill sites and
associated road maintenance) and Coyote property (up to 20 drill sites and associated road
maintenance/construction). Additional geological and geophysical work is planned before drilling.
The Company has compensated PI Financial Corp., Haywood Securities Inc. and Pollitt & Co. for
their role as arm’s length finders of purchasers of the private placement. The Company has paid
the finders an aggregate amount of $12,420 in cash and issued a total of 124,200 finders’ warrants.
Each finders’ warrant is exercisable to acquire one Common Share at an exercise price of $0.20
until May 4, 2023.
The private placement is subject to the final acceptance of the TSX Venture Exchange. The
securities issued are subject to a four-month hold period expiring on September 6, 2021.
The securities issued in connection with the private placement have not been nor will they be
registered under the United States Securities Act of 1933, as amended, or state securities laws, and
may not be offered or sold in the United States or to an account for the benefit of US persons,
absent such registration or an exemption from registration. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy the securities in the United States or in any
jurisdiction in which such offer, sale, or solicitation would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Director
Contact information:
Telephone: 604-922-1351
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities
legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such
as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or
results “will” occur. Forward-looking statements in this press release include but are not limited to the final approval
of the Exchange to the Private Placement and the intended use of proceeds for the Private Placement. Factors that
could cause actual results to differ materially from those in forward-looking statements include that Company does
not receive regulatory approval to the Private Placement. The forward-looking statements are subject to certain other
risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions,
technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes
in plans, the occurrence of unexpected events and the Company’s ability to execute and implement its future plans.
Actual results may differ materially from those projected by management. When relying on forward-looking
statements to make decisions, investors and others should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such forward-looking statements. The Company does not
undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such
statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities
Legislation Reform Act of 1995.