Pike Announces Closing of Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2020) - Pike Mountain Minerals Inc. (CSE: PIKE) ("Pike" or the "Company") is pleased to announce that it has closed its previously announced private placement financing (the "Financing"). Pursuant to the Financing, the Company issued 3,760,000 units ("Units") at a price of $0.05 per Unit to raise gross proceeds of $188,000. Each Unit consists of one common share of the Company and one share purchase warrant (each, a "Warrant"). Each Warrant entitles to the holder thereof to acquire one additional common share of the Company at a price of $0.06 per common share until November 13, 2021. All securities issued pursuant to the Financing are subject to a statutory hold period of four months and one day.

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. 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. Accordingly, readers should not place undue reliance on the forward‐ looking statements, timelines and information contained in this news release. 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/55822

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