Searchlight Announces Private Placement Financing
TSXV: SCLT
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Searchlight Announces Private Placement Financing
Vancouver, British Columbia, December 11th , 201 9 - Searchlight Resources Inc.
(“Searchlight” or the “Company”) (TSX -V: SCLT) is pleased to announce that it intends to
complete a priva te placement of flow -through and non-flow-through units (the
“Private Placement”).
The Company intends to issue up to 5,000,000 units at a price of $0.05 per unit (the “ Unit”) for
aggregate proceeds of up to $ 250,000. Each Unit will consist of one common share and one
common sha re purchase warrant (the “ Warrant”). Each Warrant will entitle the holder to
purchase one additional common share of the Company at an exercise price of $0.0 5 per
common share for a period of 2 years from the date of issue.
The Company also intends to iss ue up to 5,000,000 flow-through units at a price of $0.05 per
unit (the “FT Units”) for aggregate proceeds of up to $ 250,000. Each FT Unit will consist of one
flow-through common share and one-half of one non-flow-through common share purchase
warrant (the “NFT Warrants ”). Each full NFT Warrant will entitle the holder to purchase one
additional non-flow-through common share of the Company at an exercise price of $0.0 5 per
common share for a period of 2 years from the date of issue.
The FT Shares will entit le the holder to receive the tax benefits applicable to flow -through
shares, in accordance with provisions of the Income Tax Act (Canada).
Searchlight intends to use th e proceeds of up to $ 500,000 of the Offering to fund exploration
expenditures on its po rtfolio of mineral proper ties and for general working capital.
Closing of the proposed Offering is subject to a numb er of conditions, including receipt of all
necessary corporate and regulatory approvals, including approval from the TSX Venture
Exchange. F inders fees may be payabl e in connection with this private placement. All the
securities issuable will be subject to a four-month hold period from the date of closing.
Searchlight will rely upon such prospectus exemptions as are available, including access to existing
shareholders through the Existing Shareholder Exemption. This ensures all shareholders are treated
equally and fairly.
Qualified Person
Stephen Wallace, P.Geo., is Searchlight's Quali fied Person within the meaning of National
Instrument 43-101 and has reviewed and approved the technical information c ontained in this
news release.
About Searchlight Resources Inc.
Searchlight Resources Inc. is a Canadian mineral exploration and development company listed
on the Toronto Venture Exchange (TSX-V: SCLT). The corporate strategy of the company is:
• to explore and develop opportunities in safe, low risk jurisdictions. The Company holds
claims in Saskatchewan and Ontario, Canada. These are two of the top seven jurisdictions in
the world for mining investment, as ranked by the Fraser Institute.
• to target known highly productive geological belts, including the Flin Flon – Snow Lake
Greenstone Belt and the Abitibi Greenstone Belt.
• to acquire high quality projects, close to infrastructure, focusing on road access
• to work closely with stakeholders, including First Nations, Metis, local and provincial
governments and local contractors to advance mineral exploration and development in a safe
and environmentally sound manner.
Searchlight holds a portfolio of gold, cobalt, copper, vanadium and specialty metal projects from
grassroots stage to advanced exploration and NI43-101 resource development.
On behalf of the Board of Directors,
“Stephen Wallace”
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
Contact: Searchlight Resources Inc.
Investor Relations
(604) 331-9326
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on
assumptions as o f the dat e of this news release . These statements reflect managemen t’s
current estimates, beliefs, intentions and expectations. They are not guarantees of future
performance. The Company cautions that all forward looking sta tements are inherently
uncertain and that actual performance may be affected by a number of material factors, many of
which are beyond the Company’s control. Such factors include, among other things: risks and
uncertainties relating to the Company’s limited operating history and the need to comply with
environmental and governmental regulations. Accordi ngly, actual and future events, conditions
and results may differ materially from the e stimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as required under appl icable
securities legislation, the C ompany undertakes no obligation to publicly update or revise
forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXC HANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.