Strikepoint GOLD Announces Closing of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
STRIKEPOINT GOLD ANNOUNCES CLOSING OF PRIVATE
PLACEMENT
Vancouver, British Columbia — July 24, 2020 – Further to the Company’s news release dated July 8,
2020, StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased
to announce that it has completed its non-brokered private placement financing to a single subscriber, Eric
Sprott, raising gross proceeds of $1,955,000 through the issuance of 23, 000,000 units at a price of $0.085
per unit ( “Unit”). Each Unit is comprised of one common share of the Company (“Share”) and one-half
share purchase warrant with each whole warrant (“Warrant”) entitling the holder to acquire an additional
common share of the Company at a price of $0.12 per share for a period of 24 months from the date of
closing.
Mr. Sprott through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired
23,000,000 Units pursuant to the Private Placement for a total consideration of $1,955,000. Subsequent to
the Private Placement, Mr. Sprott beneficially owns or controls 29,842,000 Shares of the Company and
11,500,000 Warrants representing approximately 19.6% of the issued and outstanding Shares of the
Company on a non- diluted basis and approximately 25.2 % of the issued and outstanding Shares of the
Company on a partially diluted basis assuming exercise of the warrants acquired hereunder and forming
part of the Units. Prior to the Financing, Mr. Sprott beneficially own ed or controlled 6,842,000 Common
Shares of the Company.
The Units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long -term view of the
investment and may acquire additional securitie s of Strikepoint Gold including on the open market or
through private acquisitions or sell securities of Strikepoint Gold including on the open market or through
private dispositions in the future depending on market conditions, reformulation of plans and/ or other
factors that Mr. Sprott considers relevant from time to time.
A copy of Sprott's early warning report will appear on Strikepoint Gold’s profile on SEDAR and may
also be obtained by calling Mr. Sprott’s office at (416) 945- 3294 (200 Bay Street, S uite 2600, Royal
Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
1,380,000 Units were issued to Mackie Research Capital Corporation as a Finder’s Fee in connection with
the financing. The finder’s warrants forming a part of the Unit are exercisable on the same terms as the
Unit Warrants.
All securities issued in connection with the private placement are subject to a regulatory hold period
expiring on November 24, 2020.
Proceeds from the private placement will be used for exploration costs and general working capital.
About StrikePoint
StrikePoint Gold is a gold and silver exploration company focused on building high -grade precious
metals resources in Canada. The company controls two advanced stage exploration assets in BC's Golden
Triangle: the past-producing high-grade Porter Silver Project and the high -grade Willoughby Gold
Project. The company also owns a portfolio of gold properties in the Yukon and has Eric Sprott, Skeena
Resources and Ascot Resources as significant shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.
"Shawn Khunkhun"
Shawn Khunkhun
Chief Executive Officer and Director
Statements in this release that are forward -looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in
the company's filings with Canadian securities regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information currently available. The company
does not assume any obligation to update any forward- looking statements, save and except as may be
required by applicable securities laws.
Neither the TSX Venture Exchange nor it 's 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.
For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
W: www.strikepointgold.com