CSE SYMBOL: SRS

Shamrock Enterprises Completes Flow-Through Portion of Financing

News Release #16-06

CSE: SRS

December 1, 2016

 

Shamrock Enterprises Inc. (CSE: SRS) (the “Company”) further to its news releases dated March 31 and June 30, 2016, the Company is pleased to announce that it now completed the flow-through tranche of a private placement, issuing 2,325,000 Flow-Through Units at $0.04 per Unit for proceeds of $93,000.  Each Flow-Through Unit consists of one Flow-Through common share and one share purchase warrant.  Each warrant will be exercisable to acquire one non Flow-Through common share at $0.07 per share until November 30, 2017 and at $0.09 per share until November 30, 2018.  The Warrants are subject to an accelerated conversion that if and whenever at any time prior to the expiry date of the Warrants, the closing sale price of the Company’s common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange (or such other stock exchange, quotation system or market on which the Company’s common shares are listed and where a majority of the trading volume of the Company’s common shares occurs) is $0.10 or higher for a period of 10 consecutive trading days, then the Company may, within 5 days of such event, provide notice by way of press release to the holders of the Warrants of the early expiry of the Warrants, and thereafter the Warrants shall expire on that date that is 30 days from the date that such notice is given.  The common shares will be subject to a statutory hold period of four months plus one day.

The Company paid $5,000 cash as a finder’s fee.  Proceeds of $93,000 will be used for the Company’s drill program on the Fireweed Property.

About Shamrock: Shamrock Enterprises Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of silver and other precious metal properties in North America. The Company’s common shares are listed and posted for trading on the Canadian Securities Exchange ("CSE") under the symbol "SRS".

On behalf of the Board,

“Bob Faris”
CEO

For further information, please contact:

Shamrock Enterprises Inc.

Bob Faris, Chief Executive Officer

Phone: (604) 880-2121

Neither the Canadian Securities Exchange nor its Regulation Services Provider

accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.  Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.