MONTREAL (QUEBEC) – SIRIOS RESOURCES INC. (TSX-V: SOI) (the “Corporation”) announces that it has closed today a non-brokered private placement for aggregate gross proceeds of $500,000 (the “Offering”). The Offering consisted of the issuance of 6,250,000 units of the Corporation (the “Units”) at a price of 0,08$ per Unit. Each Unit is comprised of one common share of the Corporation (the “Common Shares”) that qualify as “flow-through shares” pursuant to subsection 66(15) of the Income Tax Act (Canada) and one Common Share purchase warrant (the “Warrants”). Each Warrant will entitle the holder thereof to acquire one additional Common Share for a period of 24 months from the closing of the Offering at a price of $0.15. The net proceeds from the sale of the Common Shares will be mainly used by the Corporation to advance its Cheechoo gold project.
No finder’s fees were paid in connection with this Offering. The Common Shares issued pursuant to this Offering are subject to a restricted hold period of four months and one day, under applicable Canadian securities laws. The Offering remains subject to the final approval of the TSX Venture Exchange.
About Sirios
Sirios is a Canadian mining exploration company focused on developing its portfolio of high-potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the final approval of the TSX Venture Exchange in connection with the Offering and, generally, the above “About Sirios Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavors to develop the Cheechoo project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.