The private placement will consist of an offering of 4,000,000 units (each a “Unit) at a price of $0.05
SILVER GRAIL RESOURCES LTD.
2130 Crescent Road Victoria, BC V8S 2H3 Phone: (778) 430-5680 Website: www.silvergrail.com
NEWS RELEASE--- PRIVATE PLACEMENT
June 14, 2016, Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail) (“SVG”-TSX-V) ("KD7"-Frankfurt) (“SVGAF”—OTCBB) Silver Grail Resources Ltd. (“Silver Grail) (“SVG”- TSX-V) has agreed to complete a private placement to raise proceeds of up to $200,000.
The private placement will consist of an offering of 4,000,000 units (each a “Unit) at a price of $0.05 per Unit (the “Offering”). Each Unit will consist of one common share of Silver Grail and one common share-purchase warrant; each warrant will entitle the holder to purchase one additional common share of Silver Grail at a price of $0.08 for a period of two years from the closing of the Offering.
A finder’s fee, up to the maximum allowable under TSX Venture policy, may be payable in regard to the Offering. Insiders of the Company may be taking part in the Offering. All securities issued by the Offering will be subject to a hold period of four months plus one day. The Offering is subject to regulatory approval.
Net Proceeds from the Offering will be used to fund exploration of the Company’s mineral properties in the Stewart area of northwestern British Columbia, for paying debt, and to provide working capital for company expenses going forward.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Silver Grail Resources Ltd.
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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 projected 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.