MONTREAL, QUEBEC–(Marketwire – Oct. 31, 2011) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces that its wholly-owned subsidiary, Khalkos Exploration Inc., has obtained a receipt for its preliminary prospectus for an offering of a maximum of $ 5,800,000.
The offering pursuant to this prospectus consists in the issuance by Khalkos of a minimum of 2,500,000 Flow-Through Units ($700,000) and 3,181,819 Hard-Cash Units ($700,000) for a total amount of $1,400,000 and a maximum of 13,571,429 Flow-Through Units ($3,800,000) and 9,090,910 Hard-Cash Units ($2,000,000) for a total amount of $5,800,000.
Each Hard-Cash Unit, offered at a price of $0.22, is comprised of one common share and one common share purchase warrant and each Flow-Through Unit, offered at a price of $0.28, is comprised of one flow-through common share and one half of a warrant. Each whole warrant will entitle its holder to subscribe one additional Common Share at a price of $0.45 at any time in the 18 months following the closing of the Offering.
This offering is made through Industrial Alliance Securities Inc. acting as agent in the provinces of Quebec, Ontario, Alberta and British Columbia. You can obtain a copy of the preliminary prospectus from Industrial Alliance Securities Inc. 2200 McGill College Avenue, suite 350, Montreal, (Quebec) H3A 3P8. The prospectus is also available at www.sedar.com.
There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. Khalkos has also applied to list its shares on the TSX Venture Exchange.
Following the sale of its interest in the Tilly, Pontax-Lithium and Murdoch properties, Sirios owns all the 10,343,906 outstanding shares of Khalkos (10/11/2011 Press Release).
KHALKOS SHARES DISTRIBUTION TO SIRIOS’ SHAREHOLDERS
Sirios proposes a reduction of its stated capital payable by a distribution to its shareholders of 5,936,338 common shares of Khalkos, on the basis of one (1) common share of Khalkos for each tranche of twenty (20) common shares of Sirios. Approval by the shareholders will be requested at the Special Annual Meeting of Shareholders of Sirios to be held on December 1st 2011 at the Château Champlain Marriott Hotel, Maisonneuve A room, 1 Place du Canada, Montreal, Quebec at 12:30 pm.
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