MONTREAL, QUEBEC–(Marketwire – Sept. 24, 2009) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) completed today a first closing of a non-brokered private placement with accredited investors. An amount of $64,000 was subscribed and is composed of 640,000 units at $0.10 per unit. Each unit consists of one SIRIOS Common Share at $0.10 per share and one warrant. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.16 per share for a period of 12 months after the closing date and at $0.18 during the following 12 months. This placement consists of a maximum of 1,500,000 units for a maximum amount of $150,000.
The proceeds of this placement will be used by SIRIOS for exploration activities on its PONTAX – LITHIUM property as well as for general purposes.
SIRIOS can pay certain intermediaries a finder’s fee in cash based on the subscriptions introduced by those intermediaries, up to a maximum of 4% of the total amount of subscriptions introduced. Finder’s fees totalled $1,500 for the first closing. A second and last closing is expected by November 9, 2009. There will be a hold period of 4 months on all securities issued under this financing. The TSX Venture has conditionally approved the private placement.
PONTAX – LITHIUM
An exploration program for lithium is presently carried out on the PONTAX property in James Bay, Quebec. SIRIOS and DIOS Exploration Inc. are conducting channel sampling as well as diamond drilling on the showing where numerous grab samples graded more than 1% in lithium or more than 2,15% in Li2O (ref.: 09/01/2009 press release).
This press release was prepared by Dominique Doucet, P. Eng., President of SIRIOS, Qualified Person.
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