MONTREAL, QUEBEC–(CCNMatthews – Jan. 4, 2005) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) completed on December 30, 2005 the closing of a non-brokered private placement as released on December 9, 2005. A total of 470 A units and 10 B units of SIRIOS, have been subscribed for by accredited investors and shareholders including two directors and one officer of SIRIOS, for gross proceeds of $ 480,000.
The A unit was sold at a price of $1,000 per unit, each unit consisting of 4,200 Flow-Through Shares at $0.22 per share, 400 Common Shares at $0.189 per share and 2,500 warrants. The B unit was sold at $1,000 per unit, each B unit consisting of 5,300 Common Shares at $0.189 per share and 5,300 warrants. One warrant entitles its holder thereof to subscribe for one Common Share of SIRIOS at $0.23 per share for a period of 12 months after closing and at $0.26 during a further 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 properties located in the Opinaca Area and for general purposes.
In addition to this private placement, 382,772 warrants were recently exercised adding approximately $ 59,000 of cash to SIRIOS’ working capital.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO