Searchlight Resources Announces Closing of Critical Metals Flow-Through Private Placement
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
August 15, 2022
Searchlight Resources Announces Closing of
Critical Metals Flow-Through Private Placement
Vancouver, British Columbia, August 15, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: SCLTF, Frankfurt: 2CC2) is pleased to announce that it has closed a
private placement of Critical Metals flow-through units (the “Private Placement”) as previously
announced by press release of August 8th, 2022
The Company issued 9,373,334 units at a price of $0. 105 per unit (the “Unit”) for aggregate proceeds
of $984,200. Each Unit consists of one Critical Metals flow-through share and one-half of one common
share 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. 15 per common share for a period of two
years from the date of issue. The Critical Metals flow-through shares will entitle the holder to receive the
tax benefits applicable to Critical Metals flow-through shares, in accordance with provisions of the
Income Tax Act (Canada).
The Company expects to incur cash commissions and finders’ fees of $60,979 and 774,333 broker and
finders warrants which will expire one year from the date of closing.
All the securities issued are subject to a four-month hold period from the date of closing.
Searchlight intends to use the proceeds of the Private Placement to fund exploration expenditures on
its portfolio of Critical Metals mineral properties, and expand its exploration activities at its flagship
property, Kulyk Lake.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV:SCLT; US: SCLTF; Frankfurt: 2CC2 ) is a Canadian mineral
exploration and development company focused on Saskatchewan, Canada, which has been ranked as
the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on battery
minerals and gold throughout the Province, concentrating on projects with nearby infrastructure.
Searchlight holds a 317.1 square kilometre land position at Kulyk Lake within the Wollaston Domain in
Northern Saskatchewan, where it has recently detected a new area of uranium radioactivity and rare
earth targets.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
On behalf of the Board of Directors,
“Stephen Wallace”
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
For further information, visit the Company’s website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
(604) 331-9326
Forward-Looking Statements
Information set forth in this news release contains forward -looking statements that are based on
assumptions as of the date of this news release. These statements reflect management’s current
estimates, beliefs, intentions and expectations. They are not guarantees of futu re performance. The
Company cautions that all forward -looking statements 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 othe r things: risks and uncertainties relating to the Company’s
limited operating history and the need to comply with environmental and governmental regulations.
Accordingly, actual and future events, conditions and results may differ materially from the estim ates,
beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as
required under applicable securities legislation, the Company undertakes no obligation to publicly
update or revise forward-looking information.
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