Glacier Lake to Consolidate Share Capital and Complete Private Placement
Suite 1588 – Canaccord Financial Tower, 609 Granville Street, Vancouver, BC V7Y 1G5
O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca
GLACIER LAKE TO CONSOLIDATE SHARE CAPITAL AND COMPLETE PRIVATE PLACEMENT
Vancouver, British Columbia – November 27, 2019 – Glacier Lake Resources Inc. (TSXV: GLI) (the
“Company”) announces that its board of directors has approved a consolidation of its common share
capital on a two-for-one basis (the “Consolidation”). An effective share consolidation of up to twenty-
for-one was previously approved by shareholders of the Company. The Company previously completed
a ten-for-one consolidation on February 20, 2019, and the current consolidation will bring the effective
consolidation ratio to the approved twenty-for-one.
The Company currently has 5,325,772 common shares outstanding, and following completion of the
Consolidation it is expected that the Company will have approximately 2,662,886 shares outstanding.
The Company will provide further details regarding the Consolidation, along with the effective date, as
soon as they become available.
In connection with completion of the Consolidation, the Company intends to offer up to 33,333,334
post-Consolidation units (each, a “Unit”) by way of non-brokered private placement (the “Private
Placement”). T he Units will be offered at a post-Consolidation price of $0.065 per share, for gross
proceeds of up to $2,166,667. Each “Unit” will consist of one post-Consolidation common share, and
one share purchase warrant entitling the holder to acquire an additional post-Consolidation common
share at a price of $0.10 for a period of twenty-four months. In connection with completion of the
Private Placement, the Company may pay finders fees to eligible parties who assisted in introducing
subscribers to the Company.
The Company intends to use the net proceeds of the Private Placement to undertake further exploration
work on its wholly-owned Hackett Property, located in the Sheslay region of Northwestern, British
Columbia, to retire existing debts and payables and for general working capital purposes. The Company
is also in the process of reviewing mineral projects for potential acquisitions, and may use a portion of
the proceeds of the Private Placement to fund due diligence costs associated with those projects.
All securities to be issued in connection with the Private Placement will be subject to a four-month-and-
on-day statutory hold period in accordance with applicable securities laws. Completion of the
Consolidation, and the Private Placement, remain subject to the approval of the TSX Venture Exchange.
Completion of the Private Placement is subject to completion of the Consolidation.
For additional information please feel free to contact:
Saf Dhillon, Chief Executive Officer
Glacier Lake Resources Inc.
Tel:866-687-7059
Dir: 604-688-2922
Suite 1588 – Canaccord Tower, 609 Granville Street, Vancouver, BC V7Y 1G5
O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca
Please visit our Website at: www.glacierlake.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news
release may include forward-looking statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to be considered forward looking.
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 or developments may differ materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in forward-looking statements include market
prices, continued availability of capital and financing, and general economic, market or business
conditions. There can be no assurances that such statements will prove accurate and, therefore, readers
are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to
update any forward-looking statements except as required under the applicable laws.