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Blue Lagoon Completes First Tranche of Private Placement

VANCOUVER, BC / ACCESSWIRE / January 21, 2020 / Blue Lagoon Resources Inc. (the "Company") (BLLG.CN)(BLAGF)(7BL.F) is pleased to announce that it has completed the first tranche of its non-brokered private placement described in its news release dated January 3, 2020. In connection with the first tranche closing, the Company issued 566,666 common shares at a price of $1.50 per share for gross proceeds of $850,000.

The Company intends to use the funds to conduct mineral exploration work to advance its projects as well as for general working capital. The common shares will be subject to a hold period expiring four months and one day from the date of issuance.

For further information, please contact:

Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: Blue Lagoon Resources Inc.



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