Searchlight Announces Non-Brokered Private Placement
Rhea-AI Summary
Searchlight Resources (OTC:SCLTF) announced a non-brokered private placement of up to 11,000,000 units at $0.10 per unit, for gross proceeds of up to $1,100,000. Each unit includes one common share and a three-year warrant exercisable at $0.15.
Proceeds will fund mineral exploration and working capital, subject to corporate and TSX Venture Exchange approvals. Securities will carry a four-month hold period, and finder’s fees may be payable.
AI-generated analysis. Not financial advice.
Positive
- Potential gross proceeds of up to $1,100,000 to fund exploration and working capital
- Issue of up to 11,000,000 units combining shares and three-year purchase warrants
- Warrants exercisable at $0.15 for three years may support future capital inflows
Negative
- Offering of up to 11,000,000 new shares plus warrants may dilute existing shareholders
- Closing is subject to corporate and TSX Venture Exchange approvals, adding completion risk
- All securities subject to a four-month hold period, limiting short-term liquidity for investors
- Potential finder’s fees could reduce net proceeds available for exploration and working capital
News Market Reaction – SCLTF
On the day this news was published, SCLTF declined 3.19%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2026) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") announces a non-brokered private placement financing of up to 11,000,000 Units consisting of one common share and one full purchase warrant at a price of
Searchlight intends to use the gross proceeds of up to
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange. Finders fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing.
On behalf of the Board of Directors,
"Stephen Wallace"
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, Chairman
(604) 331-9326
info@searchlightresources.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300687