Pike Announces Private Placement Financing and Provides Corporate Update

May 01, 2020 9:00 AM EDT | Source: Pike Mountain Minerals Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 1, 2020) - Pike Mountain Minerals Inc. (CSE: PIKE) ("Pike" or the "Company") is pleased to announce a proposed private placing financing (the "Financing") of up to 3,500,000 units ("Units") at a price of $0.05 per Unit to raise gross proceeds of up to $175,000. Each Unit will consist of one common share of the Company and one share purchase warrant (each, a "Warrant"). Each Warrant will entitle to the holder thereof to acquire one additional common share of the Company at a price of $0.06 per common share for 18 months following issuance of the Warrant. Completion of the Financing remains subject to the approval of the Canadian Securities Exchange.

Corporate Update

The Company announces the resignation of John Meekison as a director of the Company to pursue other interests. The Company thanks him for his work in helping successfully complete its initial public offering in September 2019.

The Company also announces that Ms. Carmen Amezquita Hernandez is resigning as Chief Financial Officer of the Company effective May 1, 2020. The Company sincerely thanks Ms. Amezquita Hernandez for her service. To replace Ms. Amezquita Fernandez, the Company will appoint Joel Leonard as Chief Financial Officer. Mr Leonard will also act as Corporate Secretary. Mr. Leonard is the founding Partner of JCL Partners Chartered Professional Accountants and has acted as a consultant for various public reporting entities since January of 2016, specializing in financial reporting, audit, and internal control implementation.

ON BEHALF OF THE BOARD OF DIRECTORS

"R. Timothy Henneberry"

R. Timothy Henneberry
Chief Executive Officer

For more information, please contact:

R. Timothy Henneberry: (250) 743-8228

Cautionary and Forward-Looking Statements

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and, include, without limitation, the completion of the Financing. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of Pike relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the risk that the Company is not able to locate suitable purchasers for the Financing or does receive the approval of the Canadian Securities Exchange. Accordingly, readers should not place undue reliance on the forward‐ looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward‐looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55220

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