Sirios completes capital raise of more than $1.84 M
December 20 2019 - 01:07PM
Management of
SIRIOS RESOURCES INC. (TSX
VENTURE:SOI) is pleased to announce the completion of a
non-brokered private placement for a total amount of $1,846,105.
This amount was raised by issuing 7,744,022 Quebec flow-through
shares at $0.23 per share and 361,000 federal flow-through shares
at $0.18 per share. Sirios will use the proceeds of the private
placement for exploration fieldwork, mainly the next winter 2020
diamond drilling campaign on its Cheechoo gold property, that
qualifies as Canadian exploration expenditures.
Finder's fees of $94,468 were paid. There will
be a hold period of four months and one day on all securities
issued under this financing. Sirios' president and a director
participated in the financing by acquiring a total of 95,000
flow-through shares. The TSX Venture Exchange has conditionally
approved the private placement.
Sirios' 100% owned Cheechoo property is located
in the Eeyou Istchee James Bay region of Quebec, at less than 15 km
from Newmont Goldcorp's Éléonore gold mine. A maiden resource
estimate of the project (Dec 2019) delineated inferred resources of
1.6 million gold ounces in 71.0 million tonnes at an average grade
of 0.69 g/t Au with a significant potential to increase these
resources.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact:Dominique Doucet,
Presidentddoucet@sirios.com Tel.: (514)
510-7961
Website:
www.sirios.com
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