MONTREAL, QUEBEC- Management of SIRIOS (TSX VENTURE: SOI) is pleased to announce the first closing of a non-brokered private placement of units for an amount of $175,000 CAD. This private placement, offered to accredited investors, has been conditionally approved by the TSX Venture Exchange and is for a maximum of 3,000,000 units offered at a unit price of $0.20. Each unit consists of one common share of Sirios and one-half warrant. Each warrant gives the holder the right to purchase one common share at $ 0.26 during the 24 months following the closing date.
875,000 shares and 437,500 warrants were issued in the first closing. They are subject to a hold period of four months and one day. No finder’s fees were paid by the Company. A last closing may take place by November 9, 2018. The proceeds of the placement will be used by Sirios to develop the Cheechoo gold project and for general purposes of the Company.
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