Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

December 15, 2017 17:09 ET

Typhoon Exploration Inc. Closes a $174,000 Private Placement

LAVAL, QUÉBEC--(Marketwired - Dec. 15, 2017) - Typhoon Exploration Inc. (TSX VENTURE:TYP) («Typhoon») announces that it has completed a non-brokered Private Placement by issuing a total of 2,610,000 flow-through common shares at a price of $0.06 per share, 290,058 common shares at a price of $0,06 and 2,900,058 warrants, for total gross proceeds of CAD$174,000. The securities issued in the Private Placement are subject to a four-month-and-one-day hold period expiring on April 16, 2018, pursuant to applicable securities legislation and the rules of TSX Venture Exchange. Typhoon's directors subscribed for 22,99 % of the securities in this placement.

Each warrant will entitle its holder to subscribe for one (1) common share of Typhoon at the price of $0.06 per share for a period of twenty-four (24) months following the closing date, that is to say until December 15, 2019.

Typhoon will use the Private Placement proceeds to finance exploration work on its properties.

Grant of stock option

The Company granted 1,800,000 stock options to its directors, employees and consultants under the company's Stock Option Plan.

Each stock option is exercisable at a price of $0.05 per share, for a period of 10 years, until December 15, 2027.

As a result of the Private Placement, there are 39,077,849 common shares of Typhoon issued and outstanding.

The common shares of Typhoon are listed on the TSX Venture Exchange under the symbol "TYP".

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 release.

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