StrikePoint Gold Announces $1.955M Strategic Investment by Eric Sprott, Increasing His Holdings to 19.9%

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce a non-brokered private placement financing to a single subscriber, Eric Sprott, raising gross proceeds of up to $1,955,000 through the issuance of up to 23,000,000 units at a price of $0.085 per unit. Each unit will be comprised of one common share of the Company and one-half share purchase warrant with each whole warrant entitling the holder to acquire an additional common share of the Company at a price of $0.12 per share for a period of 24 months from the date of closing.

"With this investment by Eric Sprott, StrikePoint is positioned to advance our high-grade gold and silver properties in Golden Triangle. We have the targets, the team and now the capital to unlock value for our shareholders," remarked chief executive officer of StrikePoint, Shawn Khunkhun.

A 6% Unit finder's fee will be payable in connection with this private placement.

Proceeds from the private placement will be used for exploration costs and general working capital.

The non-brokered private placement is subject to TSX Venture Exchange approval.

About StrikePoint

StrikePoint Gold is a gold and silver exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC's Golden Triangle: the past-producing high-grade Porter Silver Project and the high-grade Willoughby Gold Project.. The company also owns a portfolio of gold properties in the Yukon and has Eric Sprott, Skeena Resources and Ascot Resources as significant shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

"Shawn Khunkhun"

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor it's 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59369