MONTREAL, Dec. 09, 2024 (GLOBE NEWSWIRE) -- SIRIOS RESOURCES SIRIOS INC. (TSX-V: SOI) (the "Corporation") announces the closing of the second tranche of its non-brokered private placement (the "Offering"), through the issuance of 12,128,574 common shares in the capital of the Corporation (the "Shares"), at a price of $0.07 per-Share. The aggregate gross proceeds for this second tranche are $849,000. The Shares were issued as "flow-through shares" pursuant to section 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec). The qualifying expenditures will be renounced in favour of the subscribers with an effective date no later than December 31, 2024.
The gross proceeds from the sale of Shares will be used by the Corporation to incur eligible "Canadian exploration expenses" related to the Cheechoo Property of the Corporation, located in Eeyou Istchee James Bay, in the province of Quebec.
In connection with the second tranche of the Offering, finder’s fees totaling $28,000 were paid to an arm length finder. Shares issued pursuant to this Offering are subject to a restricted hold period of four months and one day, ending on April 11, 2025, under applicable Canadian laws. The Offering remains subject to the final approval of the TSX Venture Exchange (the “TSXV”).
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Sirios Resources Inc.
Sirios Resources Inc. is a Quebec-based mineral exploration company focused on developing its 100%-owned Cheechoo gold property, located in Eeyou Istchee James Bay, Canada.
For more information, please contact:
Dominique Doucet, President and Chief Executive Officer
Telephone: 450-482-0603
Email: info@sirios.com
www.sirios.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to, this relating to the intended use of proceeds of the Offering, the final approval of the TSXV in connection with the Offering, the qualification of eligible expenses under tax laws and in generally, the above "About Sirios Resources Inc." paragraph which essentially describes the Corporation’s outlook, constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumption that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These estimates and assumption may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavors to develop the Cheechoo project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statement or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
