Altum Closes Over-Subscribed Non-Brokered Private Placement
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE SERVICES**
ALTUM RESOURCE CORP.
3148 Highland Boulevard
North Vancouver, British Columbia, V7R 2X6
ALTUM Closes Over-Subscribed Non-Brokered Private Placement
Vancouver, British Columbia, June 4, 2020 – Altum Resource Corp. ( "Altum" or the
"Company") (CSE: ALTM) reports that it h as closed an over-subscribed no n-brokered private
placement as previously announced on May 6, 2020 (the "Offering "). On June 3, 2020 the
Company issued 5,792,844 units (the "Units") at a price of $0.1 0 per Unit for gross proceeds of
$579,284.40. Each Unit will consist of one common share in the capital of the Company and
two separate one-half (½) of one common share purchase warrants (a " 1/2 Warrant A " and a
"1/2 Warrant B ", and, respectively, each whole warrant, a " Warrant A" and a " Warrant B",
and collectively, the "Warrants").
Each whole Warrant A will entitle the holder thereof to purchas e one common share in the
capital of the Company at an exercise price of $0.35 per share for a period of 18 months from the
closing of the Offering. Each whole Warrant B will entitle the holder thereof to purchase one
common share in the capital of t he Company at an exercise price of $0.50 per share for a period
of 18 months from the closing of the Offering. In the event the closing price of the Company's
common shares on the Canadian Securities Exchange (the " Exchange") is equal to or greater
than $0.45 (for the Warrant As) or $0.65 (for the Warrant Bs) p er common share, respectively,
for a minimum of ten consecutive trading days commencing four m onths and one day after the
closing of the Offering, the Co mpany may accelerate the expiry date of the Warrants by
providing notice to the holders thereof and, in such case, the Warrants will expire on the 30th
day after the date on which such notice is given by the Company.
In connection with the Offering, the Company paid aggregate cas h finder's fees of $34,109.91
and issued an aggregate 341,099 Finder’s Warrants, which were p aid to Canaccord Capital Corp.
(as to $7,910.00 cash and 79,100 Finder’s Warrants), Haywood Se curities Inc. (as to $1,400.00
cash and 14,000 Finder’s Warrants), Dynamis Capital Corp (as to $2,800.00 and 28,000 Finder’s
Warrants), David R.G. Morum (as to $2,450.00 and 24,500 Finder’ s Warrants), Gerald Stern (as
to $2,100.00 and 21,000 Finder’s Warrants), Lucas Investments L td. (as to $10,059.31 and
100,593 Finder’s Warrants) and, to Hendrik van Alphen (as to $7 ,390.60 and 73,906 Finder’s
Warrants) all arm's length parties to the Company. The Finder’ s Warrants issued have the same
terms and conditions as the subscriber warrants issued under the Offering however, they are non-
transferable and have an exercise price of $0.35 for a period o f eighteen months expiring on
December 3, 2021.
All securities issued in connection with the Offering have a fo ur-month and one day hold period
in Canada, ending on October 4, 2020.
Net proceeds from the Placement will be used to fund exploratio n and development of Altum’s
projects as well as for general corporate purposes.
None of the foregoing securities have been and will not be regi stered under the United States
Securities Act of 1933 , as amended (the "1933 Act") or any applicable state securitie s laws and
may not be offered or sold in the United States or to, or for t he account or benefit of, U.S.
persons (as defined in Regulation S under the 1933 Act) or pers ons in the United States absent
News Release 2 June 4, 2020
registration or an applicable e xemption from such registration requirements. This press release
does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale
of the foregoing securities in any jurisdiction in which such o ffer, solicitation or sale would be
unlawful.
About the Company
Altum is a mineral exploration and resource development company focused on identifying
economically viable resource opportunities in the Americas.
On behalf of the Board of Directors
James Walchuck, Chief Executive Officer, President and Director
T: 604.259-7707
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-
looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the
United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical
fact, included herein including, without limitation, the inte nded use of the proceeds received from the Offering, the
possible acquisition of the Projects, th e Company's expectation that it will be successful in enacting its business
plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such as:
"believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may ", "should", "potential",
"scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has a pplied several material assu mptions, including without
limitation, that investor interest will be sufficient to close the Offering, and th e receipt of any necessary regulatory
or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in
future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of
any necessary permits, licenses and regulatory approvals in connection with the future exploration and development
of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and
development of the Company's projects an d the Company's ability to comply with environm ental, health and safety
laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future
results or performance, and that actual results may differ materially from those in forward-looking statements as a
result of various factors, including, operating and technical difficulties in connection with mineral exploration and
development activities, actual results of exploration activities, the estimation or realization of mineral reserves and
mineral resources, the inability of the Company to obtain th e necessary financing required to conduct its business
and affairs, as currently contemplated, the inability to clos e the Offering, the inability of the Company to enter into
definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and
amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the
development of new deposits, requiremen ts for additional capital, future prices of preci ous metals, changes in
general economic conditions, changes in the financial markets and in the demand and market price for commodities,
lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental approvals, permits or financing or in the completion of development or
construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the
inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the
Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks
related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim
Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the
Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review
these materials.
News Release 3 June 4, 2020
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no
obligation to update any of the forward-looking statements in this news release or incorporated by reference herein,
except as otherwise required by law.