Heatherdale Completes Shares for Debt Arrangement

VANCOUVER, BC, June 11, 2020 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) is pleased to report that the Company has completed the debt settlement with Sino-Canada Natural Resources Fund I ("Sino-Canada") as previously announced in its news release dated April 27, 2020.  Heatherdale issued 6,000,000 common shares of the Company to Sino-Canada at a deemed price of $0.50 per share and settled the CAD$3,000,000 debt owing to Sino-Canada. 

The common shares are subject to a statutory hold period of four months plus one day, expiring on October 12, 2020.  The common shares will also be subject to certain voting and transfer restrictions set forth in a lock-up agreement between Heatherdale and Sino-Canada for a period of 2 years.

About Heatherdale

Heatherdale Resources Ltd. owns 100% of the Niblack copper-gold-zinc-silver project in southeastern Alaska.

On behalf of the Board of Directors
David J. Copeland, P.Eng.
Chairman

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 adequacy or accuracy of this release.

Forward Looking Statements

This press release contains forward–looking information that involves various risks and uncertainties regarding future events. Such forward–looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Heatherdale. There are numerous risks and uncertainties that could cause actual results and Heatherdale's plans and objectives to differ materially from those expressed in the forward–looking information, including adverse market conditions. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward–looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Heatherdale does not intend to update these forward–looking statements.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

SOURCE Heatherdale Resources Limited

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