Not for distribution to United States newswire services or for dissemination in the United States
MONTREAL, Dec. 17, 2020 (GLOBE NEWSWIRE) -- SIRIOS RESOURCES INC. (TSX VENTURE: SOI) (the “Corporation") is pleased to announce the completion of the non-brokered private placement announced on November 26, 2020, for aggregate gross proceeds of approximately $520,500 (the “Offering”). In connection with this Offering, the Corporation issued 3,469,996 hard units of the Corporation (the “Units”) at a price of $0.15 per Unit.
Each Unit consists of one non-flow through common share of the share capital of the Corporation and one half of a warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional common share of the share capital of the Corporation until June 13, 2022 at a price of $0.23.
All securities issued pursuant to this Offering are subject to a hold period of four months and a day, ending on April 18, 2021, under applicable Canadian securities legislation. This Offering has received conditional approval from the TSX Venture Exchange and remains subject to the final approval of the TSX Venture Exchange.
The proceeds of this Offering will be used by the Corporation for general corporate and working capital purposes, as well as an important diamond drilling program on the Cheechoo gold project. The Cheechoo property is located at Eeyou Istchee James Bay in the immediate vicinity of Newmont Corporation’s lonore gold mine. Please refer to the Corporation’s website for more information on the Cheechoo project.