Searchlight Resources Announces Critical Metals Flow-Through Private Placement
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
July 27, 2022
Searchlight Resources Announces
Critical Metals Flow-Through Private Placement
Vancouver, British Columbia, July 2 7, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, Frankfurt: 2CC2) is pleased to announce a private placement
financing of Critical Metals flow-through units (the “Private Placement”).
The Company will issue up to 4,761,905 units at a price of $0. 105 per unit (the “Unit”) for aggregate
proceeds of $500,000. 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 $37,500 and 476,190 broker and
finders warrants which will expire one year from the date of closing.
The financing is subject to TSXV approval.
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:CYNCF) 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 F raser Institute. Exploration focus is on battery minerals and
gold throughout the Province, concentrating on projects with nearby infrastructure.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
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 extensive uranium radioactivity
and rare earth targets.
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 gu arantees of future 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 inc lude, among other 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 materiall y from the estimates,
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.