Canada Markets closed

Typhoon Closes $290,000 Flow-Through Financing

PIEDMONT, Quebec, Dec. 31, 2019 (GLOBE NEWSWIRE) -- Typhoon Exploration Inc. (“Typhoon”), (TYP.V) announces the closing of a 100% flow through private placement of: $290,000.

The private placement consists of issuance of 4,461,538 flow thru shares at a price of $0.065 per share for a gross proceed of $290,000. Typhoon will pay finder fees of $17,500. One insider has participated to this placement for $10,000.

All securities issued pursuant to this private placement are subject to a four month and one day hold period following closing. The private placement is also subject to the final approval of the TSX Venture Exchange.

The funds raised will be used to advance exploration on the properties owned by Typhoon through drilling and geophysical surveys.

With its many years of experience and in-depth knowledge of the mining sector, the new management team, supported by its Geology Department, will make exploration its top priority in 2020. This strategy aims to increase the value of assets of the Company for benefit of its shareholders.

For more information

Ghislain Morin
President and CEO
Typhoon Exploration Inc.
(819) 354-9439

Neither 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.