In connection with the consolidation, the Company intends to complete a non broker ed private placement
CICADA VENTURES LTD.
Suite 600-850 West Hastings Street
Vancouver, British Columbia
V6C 1E1
Tel: (604) 662-8130
NEWS RELEASE
September 6, 2019
Vancouver, British Columbia. September 6, 2019. The Company will proceed with the consolidation of its
shares and to change its name to Tymbal Resources Ltd. as approved at the recent AGM. The Company
will consolidate its authorized and issued share capital on a 10:1 basis.
In connection with the consolidation, the Company intends to complete a non broker ed private placement
financing of up to 10 million units of the Company at a price of 5 cents per unit, for gross proceeds up to
$500,000.00. Each unit will consist of one post consolidation common share and one post consolidation
share purchase warrant. Each warrant will entitle the holder to acquire one additional post consolidation
share at a price of 5 cents per share for a period of five years from the closing of the financing. The
proceeds of the private placement will be used for general working c apital and to secure the Company’s
tenure rights to the Iron Mask Mineral Claims.
The company holds mineral claims adjacent to and abutting the KGHM A jax Project near Kamloops.
That project has been the subject of a positive feasibility report completed for KGHM Ajax Mining Inc.
which is managed and controlled by KGHM Polska Miedz S.A. and its subsi diary KGHM International
Ltd. (Formerly Quadra FNX Mining Ltd.). The mine infrastructure propos ed by KGHM Ajax Mining
Inc.‘s feasibility study includes the utilization of significant por tions of Cicada’s Iron Mask property
which will require a mining lease over the Cicada Tenures and Cic ada’s agreement to the use of their
Tenures. It is expected that utilization of the Cicada claims w ill result in significant net present cost
savings should the proposed development proceed to production levels of 65,000 tons per da y as planned.
Cicada has sued KGHM Ajax Mining Inc. seeking damages relating to unauthorized activities on Cicada’s
Iron Mark mineral claims and seeking an injunction preventing KGHM Aj ax from accessing the Cicada
claims pending resolution of the matter.
The forgoing transactions are subject to the approval of the TSX.
Cicada Ventures Ltd.
Per: “Sammy Cheng”
Sammy Cheng
Director
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This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
The securities have not been and will not be regist ered under the United States Securities Act of 1933 , as amended (the “U.S.
Securities Act”) or any states securities laws and may not be offered or sold within the United States or to U.S. Persons unless
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