MONTREAL, QUEBEC–(Marketwired – Aug. 4, 2016) – Management of SIRIOS (TSX VENTURE:SOI) is pleased to announce the signing of an agreement with Golden Tag Resources Ltd. concerning the acquisition of the undivided interest of 50% held by Golden Tag in the Aquilon property that covers approximately 50 square kilometres and located south of the LA-1 hydro-electrical complex, in James Bay, Quebec. The consideration payable by Sirios for this acquisition will be $820,000, allocated as follows: $250,000 in cash and $570,000 by the issuance of 1,000,000 shares at a deemed price of $0.57 per share. The completion of the acquisition is subject to the approval of the TSX Venture Exchange. At the closing of this transaction, Sirios will hold 100% of the Aquilon property and Soquem Inc. will retain a 1% NSR royalty, half of which is redeemable for $500,000.
Dominique Doucet, President of Sirios stated: ‘While keeping top priority in our exploration efforts on the Cheechoo project, the 100% holding of the high gold grade Aquilon property will also be an important exploration asset for Sirios in line with our corporate mission.’
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.
For more information:
Dominique Doucet, CEO