MONTREAL, QUEBEC–(Marketwired – May 16, 2013) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI)completed a first closing of the recently announced non-brokered private placement with accredited investors and an institutional fund. A total of 2,480,000 units were subscribed, each composed of one Common Share and one warrant, in addition to the 147,538 Flow Through shares for a total amount of $267,180. The President of the Company subscribed for an amount of $13,000. There will be a hold period of four months and one day on all securities issued under this financing.
The placement consists of a maximum of 3,250,000 units and 1,346,154 Flow Through shares for gross proceeds totaling $500,000. Each unit price is $0.10 and consists of one Common Share and one warrant, whereas each Flow Through share is offered at $0.13. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.18 per share for a period of 12 months after the closing date of the private placement.
The proceeds of this placement will mainly be used by Sirios for a diamond drilling campaign on its Cheechoo gold project located in James Bay, as well as for general purposes.
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.
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Dominique Doucet, CEO