July 22, 2016 – Vancouver, British Columbia: Wildcat Exploration Ltd, “the Company”, (TSX-V: WEL) is pleased to announce that further to its news release dated July 15, 2016, whereby the Company arranged a private placement of up to 30,000,000 units raising gross proceeds of up to $1,650,000, the Company announces that 1,800,000 units have been allocated to cover any possible oversubscriptions, bringing the gross proceeds being raised up to $1,749,000 (the “Financing”).
Each unit is comprised of one common share and one common share purchase warrant at a price of $0.055 per unit. Each share purchase warrant will be exercisable to acquire one common share of the Company at a price of $0.075 per share for a period of twenty-four months following the closing of the Financing. All securities issued pursuant to the Financing will be subject to a hold period as required under applicable securities legislation.
Net proceeds from the Financing will be used for the exploration of the Humboldt Salt Marsh Project and general working capital. The Financing is subject to TSX Venture Exchange (“Exchange”) approval.
In certain instances and subject to Exchange approval, the Company may pay finder’s fees to eligible persons on the Financing.
About Wildcat Exploration Ltd: http://www.wildcat.ca
Wildcat Exploration Ltd is an exploration stage company. The Company is engaged in the acquisition and exploration of resource properties. The Company currently holds interests in resource properties in the province of Manitoba.
On Behalf of the Board of Directors
Chairman & CEO
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 contents of this news release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Financing and the Company’s ability to exercise the Option or close the Financing, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.