Searchlight Announces Non-Brokered Private Placement

Executive Summary

• Searchlight Resources Inc. announced a non‑brokered private placement of up to 14 million units (each unit = 1 common share + 1 full warrant) at $0.055 per unit, potentially raising up to $770,000.
• Each warrant allows the holder to purchase one additional common share at $0.10 for four years from issuance.
• Proceeds are earmarked for exploration activities on the company’s mineral property portfolio and general working capital.

Key Details

• Offering size: Up to 14,000,000 units (one common share + one full warrant per unit).
• Price per unit: $0.055.
• Maximum gross proceeds: $770,000.
• Warrant terms: Right to purchase one common share at $0.10 per share; exercisable for 4 years from the date of issue.
• Use of proceeds: Fund exploration expenditures on existing mineral properties and provide general working capital.
• Closing conditions: Subject to corporate and regulatory approvals, including TSX Venture Exchange approval; finders’ fees may apply; securities subject to a four‑month hold period post‑closing.
• Board signatory: Stephen Wallace – President, CEO and Director.

Notable Quotes

(No direct quotes from management were included in the release.)