San Marco Closes Over-Subscribed $785,000 Private Placement

Vancouver, British Columbia–(Newsfile Corp. – February 20, 2020) – San Marco Resources Inc. (TSXV: SMN) announces that it has closed its over-subscribed non-brokered private placement by raising C$ 784,849.91 from the issuance of 5,813,703 units at a price of $0.135 per unit. Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share for $0.20 until February 19, 2023. If, after June 19, 2020, the closing price of San Marco’s shares is at least $0.40 per share for 10 trading days, San Marco may accelerate the expiry of the warrants to 30 calendar days after the expiry of that 10 trading day period.

The Company paid finders fees of 7% and issued finder warrants (each exercisable to purchase one share for $0.135 until February 19, 2021) of 7% to Haywood Securities Inc. ($32,848.20 and 243,320 finder warrants), Canaccord Genuity Corp. ($1,417.50 and 10,500 finder warrants) and T-Bone Ventures Inc. ($2,835 and 21,000 finder warrants).

The shares issued and issuable under the private placement are subject to a four month hold period expiring on June 20, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:
Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


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