PRIVATE PLACEMENT FINANCING Bitterroot Resources Ltd.’s ( BTT, TSX-V ) (the “ Company ”) management announces a non- brokered private placement (the “ Private Placement”) of up to 12,000,000 units priced at $0.06 per unit for gross proceeds of up to $720,000. Each unit will consist of one common sha
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
November 6, 2020
PRIVATE PLACEMENT FINANCING
Bitterroot Resources Ltd.’s ( BTT, TSX-V ) (the “ Company ”) management announces a non-
brokered private placement (the “ Private Placement”) of up to 12,000,000 units priced at $0.06
per unit for gross proceeds of up to $720,000. Each unit will consist of one common share in the
capital of the Company and one half of a common sha re purchase warrant, each whole warrant
exercisable to acquire one additional common share at an exercise price of $0.12 for a period of 2
years from the closing date of the Private Placement.
The Company intends to use the proceeds of the Priv ate Placement for follow-up drilling of the
LM Property’s recently discovered magmatic nickel-c opper-PGM mineralization in the Upper
Peninsula of Michigan, pre-drilling permitting and geophysical (CSAMT) surveys on the Coyote
Sinter and Castle gold/silver projects in Nevada an d for general working capital. Details of these
projects are available on the Company’s redesigned website, www.bitterrootresources.com .
The Private Placement is subject to the acceptance of the TSX Venture Exchange (the
“Exchange ”). The securities issued pursuant to the Private P lacement will be subject to a four-
month hold period in accordance with applicable sec urities laws and the rules of the Exchange,
commencing on the closing date of the Private Placement.
The Company intends to pay qualified third-party fi nders a 6% cash commission plus 6% broker
warrants for locating purchasers in the Private Placement, subject to the approval of the Exchange.
The securities issued in connection with the Privat e 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 regis tration. 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 a ctions, events or
results “will” occur. Forward-looking statements in this press release include but are not limited to the completion of
the Private Placement, the anticipated gross procee ds of the Private Placement, the approval of the Ex change, the
Company’s planned use of the proceeds of the Privat e Placement and the Company’s plans to commence fol low-up
drilling on the LM Property. Factors that could cause actual results to differ materially from those in forward-looking
statements include that the Company does not comple te all or any part of the Private Placement, the Co mpany does
not receive regulatory approval to the Private Placement or the Company does not proceed its plans to continue drilling
on the LM Property. The forward-looking statements are subject to certain other risks and uncertaintie s, 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 occ urrence of
unexpected events and the Company’s ability to exec ute and implement its future plans. Actual results may differ
materially from those projected by management. When relying on forward-looking statements to make deci sions,
investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue
reliance on such forward-looking statements. The Co mpany does not undertake to update any forward look ing
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.