Private Placement—eric Sprott to Take 2,500,000 Units
SILVER GRAIL RESOURCES LTD.
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.silvergrail.com
NEWS RELEASE
PRIVATE PLACEMENT—ERIC SPROTT TO TAKE 2,500,000 UNITS
June 2, 2020--Victoria, BC: Silver Grail Resources Ltd. (“Silver Grail”) ( (“SVG”-TSX-
V) (“KD7”-Frankfurt) announces that it intends to complete a non -brokered private
placement consisting of the issuance of up to 4,000,000 units (“Units”) at a price of $0.10 per
Unit for gross proceeds of up to $ 400,000 subject to the approval of the TS X Venture
Exchange. Each Unit will consist of one common share (“Common Share”) and one -half a
Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one Common
Share at a price of $ 0.15 for a period of one year from closing. The Warrants are subject to
acceleration at the Company’s discretion in the event the Company’s common shares trade on
a volume weighted average price (VWAP) basis of $0. 20 or more for a period of ten
consecutive trading days.
Eric Sprott has agreed to subscribe for a minimum of 2,500,000 Units. Assuming the
additional 1,500,000 Units are subscribed for by other parties , at the completion of the
placement Eric Sprott will beneficially own 2,500,000 common shares and 1,250,000 warrants
representing approximately 7.7% on a non-diluted basis and 11.2% on a partially diluted basis
assuming exercise of all warrants.
There are no finder’s fees or other commissions associated with the transaction. Certain of the
Company’s insiders may participate in the private placement. The proceeds of the financing
will be used to advance the Company’s many properties in the Golden Triangle Region of
northwestern British Columbia as well as its cobalt properties elsewhere in the province . A
portion of the funds will be directed to general working capital and to repay moneys owed to
Teuton Resources Corp.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Silver Grail Resources Ltd..
For more information contact Investor Relations at 778-430-5680 or [email protected]. If you
would like to be added to Silver Grail’s news distribution list, please send your email address
This news release includes certain forward-looking statements concerning the future performance of our business,
its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs
and intentions. Forward -looking statements are frequently identified by such words as “may”, “will”, “plan”,
“expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward -
looking statements are based on the current opinions and expectations of management. All forward -looking
information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and
the availability of financing, as described in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from those projecte d in the forward looking -
statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. does have an
ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.