MONTREAL, QUEBEC–(Marketwire – Dec. 22, 2009) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) is pleased to announce a non-brokered private placement of $1,000,000 through the sale of 11,111,111 flow-through units (“FT Units”) at $0.09 each to the MineralFields Group. Each FT Unit consists of one common share and one-half (1/2) of one non-flow-through common share purchase warrant. Each warrant entitles its holder thereof to subscribe to one Common Share at $0.125 per share for a period of 12 months after the closing date.
“We are very pleased to be entering into this relationship with MineralFields Group”, said Dominique Doucet, President and CEO. “This is an important milestone in the growth of SIRIOS and we look forward to working with MineralFields Group as we develop our exploration projects in the James Bay Area of Quebec.”
All securities issued pursuant to this offering are subject to a hold period of four months from the date of closing. A cash commission equal to 9% (5.85 per cent to Limited Market Dealer Inc. and 3.15 per cent to Industrial Alliance) of the gross proceeds, as well as broker warrants entitling the purchase, for a period of 12 months following the closing, of 999,999 Common Shares at a price of $0.125 per Share, was paid by the Corporation to Limited Market Dealer Inc. and Industrial Alliance.
The proceeds from this placement will be used by SIRIOS to incur exploration expenses in the James Bay Area of Quebec mainly on its gold properties that qualify as Canadian exploration expenditures. Please refer to SIRIOS’ web site for additional information on those properties.
About MineralFields, Pathway and First Canadian Securities®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.
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