MONTREAL, QUEBEC–(Marketwired – May 6, 2013) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces its intent to undertake a non-brokered private placement with accredited investors. The placement consists of a maximum of 3,250,000 units and 1,346,154 flow-through shares for gross proceeds totaling $500,000. Each unit price is $0.10 and consists of one Common Share and one warrant, whereas each flow through share is offered at $0.13. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.18 per share for a period of 12 months after the closing date of the private placement.
The proceeds of this placement will be used by Sirios for a diamond drilling campaign on its Cheechoo gold project, as well as for general purposes. During the last drilling campaign completed by Sirios, gold zones with minimum widths varying between several tens of metres to the entire length of certain drill holes of almost 200 metres yielded between 0.21 and 1.09 g/t in gold (see February 12, 2013 press release).
Sirios can pay certain intermediaries a finder’s fee in cash based on the subscriptions introduced by those intermediaries, up to a maximum of 10 % of the total amount of subscriptions. 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.
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