Squire Amends Non-Brokered Private Placement

VANCOUVER, British Columbia, May 04, 2018 (GLOBE NEWSWIRE) -- Squire Mining Ltd. (CSE:SQR) – The Company announces that it has amended the terms of its non-brokered private placement announced on March 14, 2018.  The private placement will now consist of a total of up to 12,000,000 units (the “Units”) at a price of C$0.25 per Unit for gross proceeds of up to C$3,000,000 (the “Financing”).  Each Unit will be comprised of one common share and one-half (1/2) of a share purchase warrant, each whole warrant entitling the holder to purchase an additional common share at a price of C$0.50 for a period of two years.  The Company reserves the right to increase the size of the Financing by up to an additional 10% or $300,000 at its discretion. 

The net proceeds of the Financing will be used for the purposes disclosed on March 14, 2018 and finder’s fees in cash, common shares and/or finder’s warrants will be payable in accordance with the policies of the Canadian Securities Exchange.

Initial closing of the Financing is expected to take place on or about May 11, 2018.  All securities issued in connection with the Financing will be subject to a four month hold period under applicable securities legislation.

For further information contact:
Simon Moore, President and Chief Executive Officer
Telephone: (604) 929 - 0900

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to, the size and terms of the Financing and the proposed use of proceeds therefrom.  Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip design and development, technological change, obsolescence and the marketability of any chips developed by the Company, risks related to mineral exploration and the actual results of the Company’s exploration programs. Actual results and future events could differ materially from those anticipated in such forward looking information.  There are no assurances that the Company will successfully complete the design and development of a marketable ASIC chip as announced on March 14, 2018 or raise the necessary funding to complete same. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.