MONTREAL, QUEBEC–(Marketwired – Oct. 16, 2013) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI)completed a first closing of the recently announced non-brokered private placement with accredited investors. A total amount of $192,000 was subscribed in this closing. It was composed of 1,712,500 units at $0.08, each comprise of one Common Share and one warrant for an amount of $137,000, as well as 550,000 flow-through shares at $0.10 totalising $55,000. A director of the Company participated in the placement for an amount of $32,400. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.12 per share for a period of 12 months after the closing date of the private placement.
A finder’s fee of $7,000 was paid for this placement. There will be a hold period of four months and one day on all securities issued under this financing. This private placement had received the conditional approbation of the TSX Venture Exchange.
The proceeds of this placement will mainly be used by Sirios for the diamond drilling campaign on its Cheechoo gold project located in James Bay, as well as for general purposes. Please refer to the website of Sirios for more information on the Cheechoo project.
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 more information:
Dominique Doucet, CEO