Searchlight Resources closes $759,151 financing

Executive Summary

• Searchlight Resources Inc. has closed a private placement of 13,802,741 units, raising aggregate proceeds of $759,151.
• Each unit consists of one common share and one full purchase warrant, priced at 5.5 cents per unit.
• Proceeds are intended to finance exploration expenditures on mineral properties and for general working capital.

Key Details

• Units Issued: 13,802,741 units.
• Price Per Unit: 5.5 cents.
• Aggregate Proceeds: $759,151.
• Unit Composition: Each unit consists of one common share and one full purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of 10 cents per share.
• Warrant Expiration: Four years from the date of issue.
• Commissions and Fees: Cash commissions and finders' fees totaled $14,158.
• Broker Warrants: 257,409 broker warrants issued, expiring four years from the date of issue.
• Hold Period: All securities issued are subject to a four-month hold period from the date of closing.
• Use of Proceeds: To finance exploration expenditures on its portfolio of mineral properties and for general working capital.

Notable Quotes

• None provided in the text.