Sirios Resources Inc. Closing of a Private Placement for $1,021,540
MONTREAL, Mar 2, 2016 - Sirios Resources Inc. (TSX VENTURE:SOI) is pleased to announce the completion of a non-brokered private placement for aggregate gross proceeds of $1,021,540. In addition to the investment by Goldcorp of $962,000 (press release February 23, 2016), other current shareholders have invested an additional sum of $59,540. A total of 7,858,000 units at $0.13 were subscribed for under the private placement, each unit consisting of one common share of Sirios and one-half of one share purchase warrant. Each full warrant gives the holder the right to purchase one common share at an exercise price of $0.20 per share during the eighteen months following the closing date.
There will be a hold period of four months and one day on all securities issued under this financing. The TSX Venture Exchange has conditionally approved the private placement and no finder's fee was paid.
The proceeds of the placement will be used by Sirios for exploration fieldwork on its Cheechoo gold project, neighbour of the gold mine Eleonore of Goldcorp located in James Bay, as well as for general corporate and working capital purposes. Please refer to the website of Sirios for more information on the Cheechoo project.
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.
Contact
Dominique Doucet, President, Eng.
ddoucet@sirios.com
(514) 510-7961
(514) 510-7964
www.sirios.com
Christian Guilbaud, B.A.A
cguilbaud@videotron.ca
(514) 813-7862