NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: SIRIOS RESOURCES INC.
TSX VENTURE SYMBOL: SOI
OCTOBER 17, 2002 – 10:35 EDT
Private Placement With SIRIOS’ Directors and Officers
MONTREAL, QUEBEC, CANADA–SIRIOS RESOURCES INC. reports its intent
to undertake a non-brokered private placement with some of its
directors or officers, who have agreed to subscribe for a minimum
of 700,000 units and a maximum of 2,500,000 units of the Company
for gross proceeds to the Company of a minimum of $70,000 and a
maximum of $250,000. The price is $0.10 per unit and each unit
will consist of one Common Share and half a warrant, a warrant
entitling its holder thereof to subscribe for one Common Share at
$0.13 per share for a period of 18 months.
The private placement is subject to regulatory approval and
The proceeds of this placement shall be used by SIRIOS to start
exploration activities, including a short drilling program, on its
Terra Nova Brazilian project (ref.: press release 09/29/02) and
for general purposes.
For more information:
Dominique Doucet, CEO