Cleghorn Minerals Announces Increase to Previously Announced Private Placement Financing
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152 Chemin de la Mine École
Val-d’Or, QC J9P 7B6
CLEGHORN MINERALS ANNOUNCES INCREASE TO PREVIOUSLY ANNOUNCED
PRIVATE PLACEMENT FINANCING
Val-d’Or, Québec, January 31, 2020 – Cleghorn Minerals Ltd. ( TSX-V:CZZ) (“Cleghorn” or the
“Company”) announces that, further to its news release of January 30, 2020, it has received additional
subscriptions such that it will conduct a non-broker ed private placement offering of 5,700,000 Units
(instead of 4,000,000 Units as previ ously announced) at a per Unit price of $0.05 for gross proceeds of
$285,000 (instead of $200,000 as previously announced). Each Unit will consist of one common share in
the capital of the Company and one non-transferab le share purchase warrant, each warrant entitling the
purchase of one common share at a per share price of $0.10 for three years from the date of issuance of
the securities.
The offering is subject to acceptance by the TSX Ve nture Exchange. Directors and/or officers of
Cleghorn plan to purchase a portion of securities under the offering.
The proceeds raised from this offering will be used by the Company to conduct further exploration work
on its Meech Lake – Matachewan Prospect property, and for general corporate purposes. All securities
issued will be subject to a hold period of four months and one day from the date of closing of the offering
in accordance with applicable securities legislation and the policies of the TSX Venture Exchange.
About Cleghorn Minerals Ltd.
Cleghorn is a junior mineral exploration company with a 100% interest in the Meech Lake - Matachewan
Prospect, a property located in northeastern Ontario, subject to an aggregate 3.5% NSR.
For additional information, please contact:
Glenn J. Mullan, President, Chief Executive Officer, Secretary and Director
Telephone: (819) 824-2808 – Head Office
(514) 835-8384 – Cell
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking
statements are statements that are no t historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions,
or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the
expectations expressed in such forw ard-looking statements are based on r easonable assumptions, such statements
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES
OR TO U.S. NEWS AGENCIES
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are not guarantees of future performance and actual results or realities may differ materially from those in forward
looking statements. Forward looking st atements are based on the beliefs, es timates and opinions of the Company’s
management on the date the statements are made. Except as required by law, the Company undertakes no obligation
to update these forward-looking statements in the event th at management’s beliefs, estimates or opinions, or other
factors, should change.
Neither TSX Venture Exchange nor its Re gulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS PRESS RELEASE, REQU IRED BY APPLICABLE CAN ADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND
DOES NOT CONSTITUTE AN OFFE R TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY
OF THE SECURITIES DESCRIBED HEREIN IN TH E UNITED STATES. THESE SECURITIES HAVE
NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.