Strongbow Exploration Inc. {TSX.V: SBW}

Announce that further to the news release dated January 16, 2020, it has increased the previously announced non-brokered private placement financing from $2,000,000 to $2,352,500.

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Keith Russ, a technical service engineer of the South Crofty Tin Project, stands in a mining tunnel at South Crofty tin mine in Redruth, U.K., on Thursday, Aug. 11, 2016. Strongbow Exploration Inc., who the bought mine last month, could have the mine in production by 2019 or 2020, delivering 20 tons of tin a day, according to Chief Executive Officer Richard Williams. Photographer: Simon Dawson/Bloomberg

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VANCOUVER, British Columbia, Jan. 31, 2020 – Strongbow Exploration Inc. (“Strongbow” or the “Company”; {TSX-V: SBW} is pleased to announce that further to the news release dated January 16, 2020, it has increased the previously announced non-brokered private placement financing from $2,000,000 to $2,352,500.

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The proceeds from the private placement will be used for a drill programme at the Company’s South Crofty tin project, located at Cambourne, Cornwall UK, and for general working capital purposes.

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Completion of the private placement is subject to certain conditions, including the approval of the TSX Venture Exchange.  All securities issued as part of this private placement will be subject to a hold period of four months and one day from the date of issuance of the securities.

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Private Placement Terms

The financing will consist of up to 47,050,000 Units priced at $0.05 per Unit raising gross proceeds of $2,352,500. Each Unit comprises one common share and one half of one common share purchase warrant. Each full warrant will allow the holder to purchase one common share of Strongbow at a price of $0.07 for a period of 36 months from the closing date of the financing.

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