Serengeti Announces a Non-Brokered Flow-Through Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 10, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) announces a non-brokered private
placement to raise gross proceeds of up to CDN$750,000 through the sale of up to 5,000,000 flow-through common shares at a price
of $0.15 per flow-through share.
All the securities issued pursuant to this private placement will be subject to a four month hold period. Completion of
the Offering is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture
Exchange. The Offering is not subject to any minimum aggregate subscription.
The Company may pay a finders' fee in respect of certain subscribers in accordance with the policies of the TSX-V.
Proceeds of the Offering will be used for continued exploration and drilling on a number of the Company's properties in B.C.,
such as Milligan West and the UDS Properties, which are outside of the Kwanika project being funded by Daewoo Minerals
Canada ("Daewoo"). Daewoo currently holds a 5% interest in the Kwanika property and may earn an additional 30% interest in
the project, by electing on or before July 27, 2017 to fund an additional $7 million over the next two year period.
About Serengeti Resources Inc.
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of
exploration success. The Company is currently advancing its Kwanika copper-gold project in partnership with Daewoo Minerals
Canada and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. A
number of these other projects are available for option or joint venture and additional information can be found on the Company's
website at www.serengetiresources.com.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
Cautionary Statement
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans
and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially
from those anticipated in such statements. Important factors that could cause actual results to differ materially from our
expectations as well as a comprehensive list of risk factors are disclosed in the Company's documents filed from time to time via
SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the
estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update
forward-looking statements should conditions or our estimates change, other than as required by law and readers are further
advised not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of
this release.