McLaren Resources Closes $587,000 Financing
NEWS RELEASE
FOR IMMEDIATE RELEASE
July13, 2020
Toronto, Ontario
McLaren Resources Closes $587,000 Financing
Toronto, ON: McLaren Resources Inc. (“McLaren” / the “Company”) (CSE: MCL, Frankfurt:
3ML) announces that it has closed a non-brokered private placement financing consisting of flow-
through share units (the “Flow-Through Units”) and common share units (the “Common Share
Units”) for aggregate gross proceeds of $587,000.
The Company has issued a total of 6,540,000 Common Share Units and 5,200,000 Flow-Through
Units. Both, the Flow-Through Units and the Common Share Units were issued at a price of $0.05
per unit. Each Flow-Through Unit consists of one common share in the capital of McLaren issued
on a flow-through basis pursuant to the Income Tax Act (Canada) and one-half of one common
share purchase warrant. Each Common Share Unit consists of one common share in the capital of
McLaren and one common share purchase warrant. Each whole warrant is exercisable at a price
of $0.10 per common share for a period of 18 months from the date of issuance.
In connection with the financing, McLaren paid finder’s fees consisting of $21,875 in cash,
including a finder’s fee of $1,750 to Accilent Capital Management Inc.
Gross proceeds from the Flow-Through Units will be used by McLaren for exploration
expenditures on its gold properties located in the Timmins Gold District in Northern Ontario. Net
proceeds from the Common Share Units will be used for general corporate purposes.
The Company also announces that it has granted 1, 550,000 stock options to consultants of
McLaren. Each option entitles the holder to purchase one common share in the capital of McLaren
at an exercise price of $0.10 per share for a period of two years from the date of issuance. In
addition, the Company has issued $50,000 value in shares at $0.05 per share of McLaren to
directors and consultants of McLaren in exchange for services rendered to McLaren.
About McLaren
McLaren is focused on exploring its gold properties located in the Timmins Gold District of
Northeastern Ontario. The McCool Property located 2 km north of Highway 101 and neighbours
several large gold deposits including the Golden Highway project property 1km to the south and
the Fenn Gib gold project 5 km to the east. The Black Fox mine is 15 km to the west and the Holt
Mine Complex is 20 km to the east. The McLaren Blue Quartz Property is 6 km north of Black
Fox Mine, and the McLaren Kerrs Property is 10 km east of the Blue Quartz Property.
For more information, please contact: Radovan Danilovsky, President, Phone: 416-203-6784,
www.mclarenresources.com
MCLAREN RESOURCES INC.
44 Victoria Street, Suite 1616
Toronto, Ontario M5C 1Y2
This news release which announces a completed financing is not for distribution in the United
States.
The Canadian Securities Exchange has neither approved nor disapproved the contents of the press
release. The Canadian Securities Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Certain statements contained in this news release constitute "forward looking statements". When
used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and
similar expressions are intended to identify forward looking statements or information. These
statements are based on current expectations of management; however, they are subject to known
and unknown risks, uncertainties and other factors that may cause actual results to differ
materially from the forward-looking statements in this news release. Readers are cautioned not to
place undue reliance on these statements. McLaren Resour ces Inc. does not undertake any
obligation to revise or update any forward-looking statements as a result of new information,
future events or otherwise after the date hereof, except as required by securities laws.