Sego Closes $1,060,000 Non-Brokered Flow Through Financing
Sego Closes $1,060,000 Non-Brokered Flow
Through Financing
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2026) - Sego Resources Inc. (TSXV:
SGZ) ("Sego" or "the Company"), has closed its non-brokered critical minerals flow through financing
announced May 29, 2026, by issuing 21,200,000 common shares at $0.05 per share for gross proceeds
of $1,060,000.
The financing was oversubscribed due to investor demand. The closing of the placement
is subject to receipt of approval of the TSX-V.
Private Placement
The offering consisted of 21,200,000 shares at $0.05 per share for gross proceeds of $1,060,000.
There were no warrants attached to the private placement.
Finder's fees paid on the placement consisted of $52,500 and 1,050,000 share purchase warrants.
The
non-transferable share purchase warrants are exercisable at $0.05 for one year.
MI 61-101 Disclosure
MI 61-101 Disclosure
Elliot Strashin, an insider of the Company by right of holding >10% of the issued and outstanding shares
of the Company, participated in the private placement for 2,000,000 common shares.
A director of the
Company, J Paul Stevenson, participated for 1,000,000 common shares. The participation by such
insiders is considered a "related-party transaction" within the meaning of Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied
on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101
contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the
Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the
fair market value of the consideration for, the transaction, insofar as it involved the related parties,
exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
All of the securities sold pursuant to the offering will be subject to a four-month-and-one-day hold period
from the date of closing. The hold period will expire on October 6, 2026.
Proceeds of the private placement will be spent on exploration of the Company's Miner Mountain project.
The gross proceeds received by the Company from the sale of the FT Units will be used to incur
"Canadian exploration expenses" that are "flow-through critical mineral mining expenditures" (as such
terms are defined in the Income Tax Act (Canada)) on the Company's properties located in British
Columbia.
None of the securities issued in the Offering will be registered under the United States Securities Act of
1933, as amended (the "1933 Act").
There is no material change about the issuer that has not been generally disclosed.
For further information please contact:
J. Paul Stevenson, CEO, and Director
(604) 682-2933
email:
About the Project
Sego is 100% owner of the Miner Mountain Project, an alkalic copper-gold porphyry and gold
exploration project located near Princeton, British Columbia. The property is 2,056 hectares in size and
is 15 km north of the Copper Mountain Mine operated by Hudbay Minerals Inc. Sego has a
Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory
the Miner Mountain Project is situated. Sego has received an Award of Excellence for its reclamation
work on the Miner Mountain 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. No regulatory authority has approved or disapproved the information contained in this news
release.
This release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statement of historical facts that address future production, reserve
potential, exploration drilling, exploitation activities and events or developments that the Company
expects re forward-looking statements. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, statements are not guarantees
of future performance and actual results or developments may differ materially from the forward-looking
statements. Factors that could cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes, continued availability of
capital and financing, general economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and those actual results or developments may
differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/300356