NOT FOR DISTRIBUTION IN THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
Vancouver, British Columbia, October 23rd, 2020 – Sentinel Resources Corp. (CSE: SNL)(US OTC PINK: SNLRF) (“Sentinel” or the “Company”) is pleased to announce that it has closed its non-brokered private placement by issuing 2,000,000 Units (as defined below) at a price of $0.50 per Unit for gross proceeds of $1,000,000 (the “Financing”).
Rob Gamley, President & CEO, commented: “With the capital injection of $1 million, Sentinel is well positioned to actively explore its broad portfolio of high-grade gold and silver projects in New South Wales, Australia. Exploration programs are being planned and will be announced shortly.”
Each Unit consists of one common share of the Company and one share purchase warrant (each a “Warrant”), with each Warrant entitling the holder to purchase one additional common share for a period of one year from the date of issue at an exercise price of $1.00 per share.
All securities issued under the Financing are subject to a four month and one day hold expiring February 24, 2021. The Company paid finders fees totalling $59,700.
The proceeds of the financing will be used for exploration programs on the Company’s gold and silver projects in New South Wales, Australia and general working capital purposes.
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Financing have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.
About Sentinel Resources
Sentinel Resources is a Canadian-based exploration company focused on the acquisition and exploration of gold and silver projects with world-class potential. Its current portfolio includes high-grade gold and silver orogenic projects in New South Wales, Australia as well as the Salama Gold Project, Peru. Sentinel Resources also has interests in the Waterloo, Pass, and Little Bear projects in British Columbia. The Company’s guiding principles are based on acquiring strategic exploration properties in mining-friendly jurisdictions with historical mining industries, low-cost of entry or acquisition, and easy access to infrastructure to minimize capital and operational costs in explorational periods. For more information, please go to the Company’s website at www.sentinelexp.com.
Sentinel Resources Corp.
President and Chief Executive Officer
Rob Gamley, President & CEO
Company Website: www.sentinelexp.com
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. Sentinel 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 Sentinel’s control. Such factors include, among other things: risks and uncertainties relating to Sentinel’s limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities 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, Sentinel undertakes no obligation to publicly update or revise forward-looking information.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.