Searchlight Resources Closes Third Tranche of Private Placement Financing
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
February 1, 2022
Searchlight Resources Closes Third Tranche
of Private Placement Financing
Vancouver, British Columbia, February 01 , 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV:SCLT, US:CNYCF, FSE 2CC2) is pleased to announce that it has closed the third
and final tranche of a private placement of flow -through and non -flow-through units (the “Private
Placement”) as previously announced by press release on November 24th, 2021
In this tranche the Company issued 396,875 units at a price of $0.08 per unit (the “Unit”) for aggregate
proceeds of $ 31,750. Each Unit consists of one common 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 $0.12 per common share for a period of 2 years
from the date of issue.
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 mineral properties and for general working capital.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV:SCLT; US:CYNCF ; FSE 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 gold, uranium
and battery minerals throughout the Province,
On behalf of the Board of Directors,
“Stephen Wallace”
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
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 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 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.
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 legislation, the Company undertake s no obligation to publicly
update or revise forward-looking information.
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TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.