MONTREAL, CANADA–(CCNMatthews – Oct. 26, 2006) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) reports its intent to undertake a non-brokered private placement, with accredited investors and directors. This placement consists of a maximum of 800 Flow-Through units of the Company for gross proceeds to the Company of a maximum of $800,000. The unit price is $1,000 and each unit will consist of 3,000 Common Flow-Through Shares at $0.30 per share, 400 Common Shares at $0.25 per share and 3,400 warrants. One warrant will entitle its holder thereof to subscribe for one Common Share at $0.32 per share for a period of 12 months after the closing date and at $0.35 during the next 12 months. The proceeds of this placement shall be used by SIRIOS for exploration activities on its properties and for general purposes.
This private placement is subject to regulatory approval and filings.
SIRIOS confirms the closing of the private financing with SODEMEX II as announced on October 23, 2006. 600,000 Common Shares of SIRIOS at $0.25 per share and 600,000 warrants were issued for an amount of $ 150,000. One warrant entitles SODEMEX II to subscribe for one Common Share of SIRIOS at $0.30 per share for a 12 month period after closing and at $0.35 for a further 12 months.
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