Searchlight Resources Announces 100% of Flow Through Warrants Exercised
VANCOUVER, BC / ACCESSWIRE / May 11, 2021 / SEARCHLIGHT RESOURCES INC. ("SEARCHLIGHT" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2), a Vancouver-based mineral exploration company with a portfolio of properties in Saskatchewan, Canada, is pleased to announce that it has received $364,600 from the exercise of all 7,292,000 flow-through share purchase warrants. The Company intends to use the proceeds of the warrant exercise for exploration on its gold, copper and battery metals properties.
The warrants were originally issued in connection with a private placement of flow-through units completed by Searchlight in May 2020 (see Press Release dated May 26, 2020).
"I am extremely pleased to report a successful warrant exercise for the Company", commented Stephen Wallace, CEO of the Company. "These additional funds give us the ability to expand our exploration program for the upcoming field season, notably on our Kulyk Lake Critical Rare Earth property which we recently expanded, and our Bootleg Lake Gold Property on which we have encountered new gold-bearing structures in recent drilling."
About Searchlight Resource Inc.
Searchlight Resources is exploring a large portfolio of properties in Saskatchewan, Canada, which has been rated the most favourable jurisdiction in Canada by the industry. Searchlight's growing portfolio includes four past-producing gold mines close to the mining center of Flin Flon, and large wholly owned acreages in Saskatchewan's prolific greenstone belts.
Searchlight has 99,981,177 shares issued and outstanding.