Spearmint Resources Inc.: Closes Private Placement

VANCOUVER, BC / ACCESSWIRE / September 22, 2016 / Spearmint Resources Inc. (TSXV: SRJ) ("SRJ" or the "Company") has closed a non-brokered private placement of 9,500,000 units at $0.025 per unit for gross proceeds of $237,500 (the "Offering"), previously announced on September 7, 2016. Each unit consists of one common share and one transferable share purchase warrant exercisable at $0.05 until September 21, 2021. The Offering was conducted in accordance with the TSXV Bulletin dated April 07, 2014 and November 17, 2014, regarding Private Placements - Discretionary Waivers of $0.05 Minimum Pricing Requirement. Proceeds of the Offering are expected to be used towards the following: (a) accounts payable and accrued liabilities; (b) exploration and evaluation of the Company's existing mineral properties; (c) repayment of loans; and (d) general working capital. All securities issued in this offering are subject to a four-month hold period expiring January 22, 2017.

James Nelson states, "We are very pleased to close this placement. This will enable the company to now get underway on multiple projects with our focus on lithium brines in the Clayton Valley of Nevada and our hard rock lithium in Quebec. Shareholders should expect a more consistent flow of news going forward."

Contact Information:

Tel: 1.604.646.6903
Fax: 1(604) 689-1733

"James Nelson"
Director
Spearmint Resources Inc.

Neither the 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 press release.


SOURCE: Spearmint Resources Inc.