MONTREAL, QUEBEC–(Marketwire – April 8, 2011) – SIRIOS RESOURCES INC. (TSX:VENTURE:SOI) has received approval from the TSX Venture Exchange to extend the date of the final closing for the ongoing private placement. The financing is expected to be completed before the end of April.
The private placement, which is non-brokered with accredited investors, is composed of two units. 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 to 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. Sirios completed a first closing of $528,300 (see Press Release March 23, 2011).
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 four months on all securities issued under this financing. The TSX Venture has conditionally approved the private placement.
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. Please refer to Sirios’ web site for additional information.
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