MONTREAL, QUEBEC, CANADA–(CCNMatthews – Dec. 5, 2006) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) reports the closing on December 4 2006 of the 1,000,000 C$ private placement, as announced on November 6.
A total of 1,000 units have been subscribed mostly by accredited investors and some directors and officers of SIRIOS. The unit sold at 1,000 C$ consisted of 3,000 Common Flow-Through Shares at $0.30 per share, 400 Common Shares at $0.25 per share and 3,400 warrants. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.32 per share for a period of 12 months after the closing date and at $0.35 during the next 12 months.
There is a hold period of 4-months on all shares issued. There were no fees related to this financing neither as cash nor share issuance. The proceeds of this placement shall be used by SIRIOS mainly for exploration activities on its Opinaca Area properties and for general purposes.
The closing of the second private placement of 252,500 $C (also announced on November 6) will take place in a few days.
In addition to this private placement, 722,500 warrants were recently exercised adding 116,125C$ of cash to SIRIOS’ working capital.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO