Lithoquest Diamonds Closes Non-Brokered Private Placement
NEWS RELEASE
April 22, 2020
TSX-V: LDI
Lithoquest Diamonds Closes Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Vancouver, B.C., April 22, 2020 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest” or the “Company”)
is pleased to announce that it has received TSX Venture Exchange conditional approval and today closed
the Company’s non-brokered private placement, previously announced on February 20, 2020 (the
“Offering”). Pursuant to the Offering, the Company has issued 8,333,334 common shares (the “Shares”)
at a price of $0.03 per Share for aggregate gross proceeds of $250,000.
In connection with the closing of the Offering, Lithoquest has paid aggregate cash finder’s fees of $1,997
to an arm’s length finder, representing 5% of the proceeds raised from subscriptions by certain placees
introduced by the finder.
The Shares acquired by the placees, are subject to a hold period until August 23, 2020, in accordance
with applicable Canadian securities legislation.
The proceeds of the Offering will be used for general working capital purposes.
About Lithoquest Diamonds Inc.
Lithoquest is a Canadian resource exploration company focused on the discovery and development of
economic mineral deposits in Western Australia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute “for ward-looking information” under
applicable Canadian securities legislation. Forward -looking information incl udes, but is not limited to, the
Company’s intended use of the net proceeds of the Offering. Forward-looking information is necessarily
based upon a numb er of estimates and assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties, and other factors which may cause the actual results and future
events to differ mat erially from those expressed or implied by such forward -looking information, including
management’s discretion to reallocate the net proceeds of the Offe ring. There can be no assurance that
such information will prove to be accurate, as actual results and future events cou ld differ materially from
those anticipated in such information. Accordingly, readers should not place un due reliance on forward -
looking information. All forward-looking information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of management and info rmation available to
management as at the date hereof. The Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new information, future events or otherwise, except
as required by law.
For further information, please contact:
Lithoquest Diamonds Inc.
+1 (604) 506-2804