Sirios Resources Inc.

TSX VENTURE : SOI


Sirios Resources Inc.

April 10, 2014 17:10 ET

Sirios Resources Inc.: Final Closing of the Already Announced Placements, Bringing the Total Raised Amount to $1,333,000

MONTREAL, QUEBEC--(Marketwired - April 10, 2014) - SIRIOS RESOURCES INC. (TSX VENTURE:SOI) completed today the second and last closing of the non-brokered private placements announced last week for an additional amount of $166,956. In addition to the $1,166,044 raised last week, a sum of $142,000 was collected by issuance of units while an amount of $24,956 came from issuance of flow-through shares. Thus, a total amount of $1,333,000 was raised by Sirios. The company has now 43,092,736 common shares issued and outstanding while its working capital stands at more than $1.1M.

In today's closing, Sirios issued 178,258 flow-through shares at $0.14 per share and 1,183,334 units were subscribed. Each unit, sold at $0.12, is composed of a Common Share and half a warrant of Sirios. Each warrant entitles its holder to subscribe for one Common Share at $0.15 for a period of 12 months after the closing date.

Finder's fees of $2,957 were paid for this closing. In addition, Sirios issued finder's warrants entitling holders to purchase 10,695 Common Shares at $0.14 per share and 6,000 Common Shares at $0.15 per share, for a period of 12 months after the closing date.

There will be a hold period of four months and one day on all securities issued under these financings. The TSX Venture has conditionally approved the private placements.

The proceeds of these placements will mainly be used by Sirios for a diamond drilling campaign on its Cheechoo gold project located in James Bay, as well as for general 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 Information