MONTREAL, QUEBEC–(Marketwire – Jan. 5, 2010) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces two non-brokered private placements totaling $170,300 closed on December 31st 2009 with accredited investors. This amount is added to the one million dollars already raised on December 22nd 2009.
The first placement was completed through the sale of 146 units at $1,000 per unit. Each unit included 8,000 flow-through common shares at $0.10625 each, 1,750 common shares at $0.08571 per share and 5,000 warrants. Each warrant entitles its holder thereof to subscribe to one Common Share at $0.15 per share for a period of 12 months after the closing date and at $0.17 per share during the following 12 months. One officer and one director subscribed for a total amount of $25,000. A $9,100 finder’s fee was paid by the Company for this placement.
The second placement totaling $24,300 was done through the sale of 270,000 units at $0.09 each including one flow-through share and one-half of one non-flow-through share purchase warrant. Each warrant entitles its holder thereof to subscribe to one Common Share at $0.125 per share for a period of 12 months after the closing date.
All securities issued pursuant to these two offerings are subject to a hold period of four months from the date of closing.
The proceeds from this placement will be used by SIRIOS to incur exploration expenses in the James Bay Area of Quebec mainly on its gold properties, including, among others, CHEECHOO adjoining the property of the Eleonore mining project of Goldcorp Inc.. Please refer to SIRIOS’ web site for additional information on those properties.
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