MONTREAL (QUEBEC) – SIRIOS RESOURCES INC. (TSX-V: SOI) announces its intent to undertake a non-brokered private placement with accredited investors. The placement consists of a maximum of 14,000,000 units for an amount of $2,100,000. This private placement has been conditionally approved by the TSX Venture Exchange. Each unit price is $0.15 and consists of one common share and one-half warrant. Each warrant will entitle its holder thereof to subscribe for one common share at $0.23 per share for a period of 18 months after the closing date of the private placement.
The proceeds of this placement will be mainly used by Sirios to advance its Cheechoo gold project, as well as for general purposes.
Sirios can pay up to 6 % of the total amount as finder’s fee. Directors, officers and employees may participate in this placement.
There will be a hold period of four months and one day on all securities issued under this financing. This private placement is subject to regulatory approval and filings.