Sniper Resources Announces Closing of Private Placement

Toronto, Ontario--(Newsfile Corp. - March 20, 2019) - Sniper Resources Ltd. (the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement, raising an aggregate gross proceeds of $145,000 through the issuance of 145,000,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.001 per Common Share (the "Offering"). All Common Shares issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

The Offering was completed pursuant to two partial revocation orders issued by the British Columbia Securities Commission ("BCSC") and the Ontario Securities Commission ("OSC"), on January 28, 2019, as previously announced in the Company's press release dated February 13, 2019. The proceeds of the Offering will be applied towards the payment of outstanding fees owed to the Company's auditors and consultants, filing fees, accounting and bookkeeping fees, professional fees and general working capital.

About Sniper Resources Ltd.

Sniper Resources Ltd. is a mineral exploration company with minimal current activities or operations and is not currently listed on a stock exchange.

For additional information on Sniper Resources Ltd.:
Michael Lerner
CEO, CFO & Director
T: 416 710-4906
E: [email protected]

This press release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of the Offering. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43557