Cairo Resources Announces Increase to Private Placement

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Vancouver, British Columbia–(Newsfile Corp. – July 8, 2020) –  Cairo Resources Inc. (TSXV: QAI.H) (the Company or Cairo“), a Capital Pool Company listed on the NEX Board of the TSX Venture Exchange (the “Exchange“), announces that further to its news release on July 2, 2020, it has increased its non-brokered private placement to up to 3,375,000 common shares at a price of $0.16 per common share for gross proceeds of up to C$540,000 (the “Offering”).

The Company will apply the proceeds of the Offering to pursue a Qualifying Transaction and for general working capital purposes.

The Company may pay finders’ fees in connection with the Offering, in accordance with Exchange policies. All securities issued under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

Closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the Exchange.

About Cairo

The Company is a Capital Pool Company presently listed on the NEX board of the Exchange. The Company currently has issued and outstanding 1,881,473 common shares issued and outstanding and no convertible securities.

For further information please contact Darryl Cardey at (604) 638-8063.

ON BEHALF OF THE BOARD

(signed) “Darryl Cardey

Darryl Cardey

President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59379