MONTREAL, QUEBEC–(Marketwire – Feb. 23, 2011) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) reports its intent to undertake a non-brokered private placement with accredited investors. Directors, officers and employees may participate in this placement which consists of 13,888,889 A units and 10,416,667 B units of the Company for gross proceeds totaling $2,500,000. The A unit price is $0.09 and each unit consists of one Common Share and one warrant. The B unit price is $0.12 and each unit consists of one Common Flow-Through Share and one quarter of a warrant. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.14 per share for a period of 12 months after the closing date and at $0.18 during the following 12 months.
The proceeds of this placement will be used by SIRIOS for exploration activities on its main precious metal properties, as well as for general purposes.
Sirios can pay certain intermediaries a finder’s fee in cash based on the subscriptions introduced by those intermediaries, up to a maximum of 8% of the total amount of subscriptions introduced.
There will be a hold period of 4 months on all securities issued under this financing. This private placement is subject to regulatory approval and filings.
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