Vancouver, British Columbia – Silver Pursuit Resources Ltd. (TSX-V: SPF) further to its news release dated Feb. 19, 2016, has completed a private placement offering of 4.1 million units of the company at a price of 2.5 cents per unit for gross proceeds of $102,500. It is noteworthy that the company's offering was oversubscribed by 100,000 units. Each unit is to consist of one common share and one share purchase warrant, where one whole share purchase warrant may be
exercised at the price of five cents per common share during a two year term.
The funds shall be used for the company's working capital. In accordance with the policies of the TSX Venture Exchange, the company paid a total of $4,200 in cash, and 168,000 nontransferable share purchase warrants with an exercise price of five cents per common share and an expiry term of two years, to various finders regarding the offering.
July 11, 2016, is the hold period expiry date in respect of the shares under the units and issuable upon exercise of the share purchase warrants.
ON BEHALF OF SILVER PURSUIT RESOURCES LTD.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.