Scottie Resources Announces 98% Uptake ON Accelerated Warrant Exercise FOR $2.54 Million
SCOTTIE RESOURCES ANNOUNCES 98% UPTAKE ON ACCELERATED WARRANT
EXERCISE FOR $2.54 MILLION
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
Vancouver, BC – September 1, 2020 – Scottie Resources Corp. (“Scottie” or the “ Company”)
(TSXV: SCOT), is pleased to announce that it has received $2 ,542,464.54 from the exercise of
11,556,657 previously issued warrants associated with a financing in the autumn of 2019. On behalf
of the Company, the board and management are grateful for the continued support of its
shareholders as we continue to advance our Golden Triangle projects, notably the Scottie Gold
Project.
President and CEO, Bradley Rourke commented “ With an exercise rate of 98% our shareholders
have resoundingly endorsed our vision for Scottie and its inherent capacity for continued success.
Fall 2020 aims to be an exciting time for the Company as we receive and release assays from our
active drill program. As of today, we have completed 23 holes out of a planned 45 holes.”
On July 6, 2020 Scottie’s share price closed at $0.385, after being at or above $0.29 during the
previous 10 cons ecutive trading days. Based on the terms of the Warrants, this triggered the
Company’s option to accelerate the expiry of the 11,351,265 Warrants held by shareholders who
participated in the Financing, as well as the 325,392 broker Warrants issued in the Financing (see
the Company’s news releases dated September 25, 2019 and October 18, 2019). Scottie provided
formal notice of the Warrant acceleration allowing the holder to purchase one common share of the
Company for each Warrant held at a price of at $0.22 per Warrant.
Funds will be used to add 2,000 m of diamond drilling to the ongoing 2020 drill program (as previously
announced on August 13th, 2020), support the follow-up 2021 drill program, and support corporate
activities.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the high- grade, past -producing Scottie Gold Mine and Bow
properties and has the option to purchase a 100% interest in Summit Lake claims which are
contiguous with the Scottie Gold Mine property. Scottie also owns 100% interest in the Cambria
Project properties and the Sulu property. Scottie Resources holds 24,589 ha of mineral claims in the
Golden Triangle.
All of the Company’s properties are located in the area known as the Golden Triangle of British
Columbia which is among the world’s most prolific mineralized districts.
Further information on Scottie can be found on the Company’s website at
http://www.scottieresources.com and at www.sedar.com, or by contacting Bradley Rourke, President
and CEO at (250) 877-9902 or Rahim Lakha, Corporate Development at (416) 414-9954.
Forward Looking Statements
This news release may contain forward‐ looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although
the Company believes the expectations expressed in such forward‐looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual
results may differ materially from those in forwar d looking statements. Forward‐looking statements
are based on the beliefs, estimates and opinions of the Company’s management on the date such
statements were made. The Company expressly disclaims any intention or obligation to update or
revise any forward‐ looking statements whether as a result of new information, future events or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy
of this release.