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

SanMarco_20022020

Vancouver, B.C. – February 20, 2020: San Marco Resources Inc. (TSX-V: 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.

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