MONTREAL, April 26, 2024 (GLOBE NEWSWIRE) -- SIRIOS RESOURCES SIRIOS INC. (TSX-V: SOI) (the "Corporation") announces the completion of the second and final tranche of its previously announced non-brokered private placement, for additional gross proceeds of $380,750 (the "Offering") through the issuance of 5,857,693 common shares of the share capital of the Corporation (the "Share"). The aggregate gross proceeds of the Offering, including proceeds from the first tranche, previously closed on March 27, 2024, are $650,000. A total of 9,999,999 Shares at a price of $0.065 per Share, were issued. 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 gross proceeds of the Offering will be mainly used to finance the exploration work on its Cheechoo gold project.
In connection with the second tranche of the Offering, finder’ fees totaling $8,424 will be paid to a non-arm’s length finder, Mine Equities Ltd., through the issuance of 129,600 Shares at a price of $0.065 per Share. In addition, finder’ fees totaling $13,560 were paid to arm length finders.
The Shares issued pursuant to the second tranche of this Offering are subject to a restricted hold period of four months and one day, ending on August 27, 2024, under applicable Canadian laws. The Offering has received conditional approval from the TSX Venture Exchange (the "TSXV"). The Offering and issuance of Shares as finder’ fees remain subject to the final approval of the TSXV.
This new 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
Sirios Resources is a mining exploration company based in Quebec, focused on developing its portfolio of high-potential gold properties in the Eeyou Istchee James Bay, Canada.
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the final approval of the TSX in connection with the Offering, and, generally, the above "About Sirios Resources" 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 assumptions 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 assumptions 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 statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that ter mis defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Dominique Doucet, Eng., President
Phone: 450-482-0603
info@sirios.com
Website: www.sirios.com
