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PROSPECTOR RESOURCES CORP. (“Prospector” or the “Company”) (TSXV:PRR) announces that it intends to complete a private placement of up to 15,000,000 common shares of the Company at a price of $0.50 per common share for aggregate gross proceeds of up to $7,500,000 (the “Private Placement”).

The Private Placement is not subject to a minimum subscription amount and it is expected that the Private Placement will be completed by the end of February.

The directors and officers of the Company are expected to participate in the Private Placement for aggregate gross proceeds of approximately $1,013,500. The Company is relying on an exemption from the related party requirements of Multilateral Instrument 61-101 (“MI 61-101”).

The proceeds of the Private Placement will be used to pursue asset acquisitions and for general corporate purposes. 

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