MONTREAL, QUEBEC–(Marketwire – Oct. 9, 2007) – SIRIOS RESOURCES INC.(TSX VENTURE:SOI) announces a brokered placement of up to 6,666,667 Flow-Through Shares at a price of $0.30 per share. This flow through offering will be made to accredited investors, within the meaning of National Instrument 45-106, residing in the Provinces of Ontario and Quebec and such other provinces of Canada as Sirios and the Agent may agree upon, in reliance upon applicable exemptions from registration and prospectus requirements. The closing is expected to occur around October 16th, 2007, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange.
All securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A cash commission equal to 8% of the gross proceeds, as well as broker warrants entitling the purchase of that number of Common Shares equal to 10% of the Shares sold pursuant to the offering, at a price of $0.30 per Share, will be payable by the Corporation to Becher McMahon Capital Markets Inc.
The proceeds from this placement will be used by SIRIOS for exploration in the James Bay Area of Quebec mainly on its PONTAX (silver) and TILLY (molybdenum) properties. Please refer to the SIRIOS’ web site for additional information on those properties.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO