Sirios Closed a Private Placement of $430,000
TSX-V : SOI
December 19, 2024
Sirios Closed a Private Placement of $430,000
MONTREAL (QUEBEC) – SIRIOS RESOURCES INC. (TSX-V: SOI) (the "Corporation") announces
that it has closed its previously announced non-brokered private placement for a gross proceeds of $430,000
(the "Offering"). The Offering consisted of the issuance of 8,600,000 units of the Corporation (the "Units")
at a price of $0.05 per Unit. Each Unit consists of one common share of the capital of the Corporation
(a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the
holder thereof to purchase one Common Share at an exercise price of $0.08 per Common Share for a period
of twenty-four (24) months from the date of issuance.
The net proceeds from the sale of the Units will be mainly used by the Corporation to advance its Cheechoo
gold project, as well as for general and corporate working capital purposes.
No finder’s fees were paid under the Offering. The Common Shares and the Warrants issued pursuant to
this Offering are subject to a restricted hold period of four months and on e day, ending on April 20, 2025,
under applicable Canadian securities laws. The Offering remains subject to the final approval of the TSX
Venture Exchange (the "TSXV"). Depending on market conditions, the Corporation may decide to close
additional tranches of the Offering.
Under the Offering, insiders of the Corporation have subscribed for a total of 900,000 Units for a total
consideration of $45,000, which constitutes a "related party transaction" within the meaning of Regulation
61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101")
and TSXV Policy 5.9 – Protection of Minority Security Holders in Special Transactions. However, insiders
that participated in the Offering disclosed their interests in the Offering and the directors of the Corporation
who voted in favour of the Offering have determined that the exemptions from formal valuation and
minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of
Regulation 61-101 can be relied on as neither the fair market value of the Units issued to insiders, nor the
fair market value of the consideration paid exceeded 25% of the Corporation’s market capitalization. None
of the Corporation’ directors have expressed any contrary views or disagreements with respect to th e
foregoing. A material change report in respect of this related party transaction will be filed by the
Corporation but could not be filed earlier than 21 days prior to the closing of the Offering due to the fact
that the terms of the participation of each of the non -related parties and the related parties in the Offering
were not confirmed.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
About Sirios Resources
Sirios Resources is a mining exploration company based in Quebec, focused on developing its portfolio
of high-potential gold properties in the Eeyou Istchee James Bay, Canada.
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not
limited to, those relating to the intended use of proceeds of the Offering, the final approval of the TSXV in
connection with the Offering, the closing of additional tranches of the Offering , and, generally, the above
"About Sirios Resources" paragraph which essentially described the Corporation’ s outlook, constitute
«forward-looking information" or "forward-looking statements" within the meaning of applicable securities
laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-
looking statements are necessarily based upon a number of estimates and assumption that, while considered
reasonable by the Corporation as of the time of such statement s, are inherently subject to significant
business, economic and competitive uncertainties, and contingencies. These estimates and assumption may
prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and
could cause, actual results to differ materially from those expressed or implied in any forward -looking
statements and future events, could differ materially from those anticipated in such statements. A description
of assumptions used to develop such forward-looking information and a description of risk factors that may
cause actual results to differ materially from forward-looking information can be found in the Corporation’ s
disclosure documents on the SEDAR+ website at www.sedarplus.ca.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not
be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided
for the purpose of providing information about management’ s endeavors to develop the Cheechoo project
and, more generally, its expectations and plans relating to the future. Readers are c autioned not to place
undue reliance on these forward-looking statements as a number of important risk factors and future events
could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates, assumptions and intentions expressed in such forward -looking statements. All of
the forward-looking statements made in this press release are qualified by these cautionary statements and
those made in our other filings with the securities regulators of Canada. The Corporation disclaims any
intention or obligation to update or revise any forward -looking statement or to explain any material
difference between subsequent actual events and such forward -looking statements, except to the extent
required by applicable law.
Neither the TSX V enture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Dominique Doucet, Eng., President
Phone: 450-482-0603
Website: www.sirios.com