Searchlight Resources Announces Private Placement Financing
November 24, 2021
Searchlight Resources Announces
Private Placement Financing
Vancouver, British Columbia, November 24, 2021 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE: 2CC2) is pleased to announce a non-brokered private
placement of flow-through units (the “FT Units”) and non-flow-through units (the “NFT Units”) for gross
proceeds of up to $2,000,000 (the “Offering”). The Offering will be available to Canadian and
international accredited investors. Red Cloud Securities Inc. of Toronto, Ontario, has agreed to act as
a finder for Searchlight on a “best efforts” basis for the Offering.
The Company intends to issue up to 10,000,000 FT units at a price of $0.10 per unit for aggregate
proceeds of up to $1,000,000. Each FT Unit will consist of one flow-through common share and one-
half of one common share purchase warrant (the “FT Warrants”). Each full FT 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 2 year from the date of issue.
The Company also intends to issue up to 12,500,000 NFT units at a price of $0.08 per unit for
aggregate proceeds of up to $1,000,000. Each NFT Unit will consist of one common share and one-
half of one common share purchase warrant (the “NFT Warrants”). Each full NFT Warrant will entitle
the holder to purchase one additional common share of the Company at an exercise price of $0.12 per
common share for a period of 2 year from the date of issue.
Finder’s fees will be payable to Red Cloud and other qualified finders in connection with the Offering
consisting of 7.0% cash and 7.0% finder’s warrants. All the securities issuable will be subject to a four-
month hold period from the date of closing. Closing of the proposed Offering is subject to a number of
conditions, including receipt of all necessary corporate and regulatory approvals, including approval
from the TSX Venture Exchange.
Searchlight intends to use the proceeds of the Offering to fund exploration expenditures on its portfolio
of mineral properties and for general working capital.
Qualified Person
Stephen Wallace, P.Geo., is Searchlight's Qualified Person within the meaning of National Instrument
43-101 and has reviewed and approved the technical information contained in this news release.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSX.V:SCL T; US:CYNCF) is a Canadian mineral exp loration and
development company focused on Saskatchewan, Canada, which has been ranked as the top location
for mining investm ent in Canada by the Fraser Ins titute. Exploration focus is on uranium, gold and
battery minerals throughout the Province, concentrating on projects with road access.
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 relea se contains forward -looking statements that are based on
assumptions as of the date of this news release. These statements reflec t manag ement’s current
estimates, beliefs, intention s and expectations. They are not guarant ees of future performance. The
Company cautions that all forward-looking statements are inherently u ncertain and that actual
performance may be affected by a number of mat erial factors, many of which are beyond the
Company’s control. Such factors include, among other things: risks and uncer tainties 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
estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information.
Except as required under applicable securities legisla tion, the Company undertakes n o obligation to
publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHA NGE NOR ITS REGULATION SE RVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.