Sirios Closes Strategic Deal and Appoints Francois Auclair as a Director
TSX-V : SOI January 27, 2022
Not for distribution to United States newswire services or for dissemination in the United States.
Sirios Closes Strategic Deal and Appoints Francois Auclair as a Director
Montreal, Quebec - Sirios Resources Inc. (TSXV: SOI) has closed the previously-announced
$1.5 million strategic agreement into the Company through the issue of 21.5 million Sirios
common shares (please see our 17/01/2022 press release ). Concurrent with the closing of the
financing, François Auclair P.Geo, M.Sc. has joined the Sirios board of directors.
Dominique Doucet, CEO of Sirios said: “We are pleased to welcome a new major shareholder in
our company. This agreement is only the beginning of our collaboration with this strategic
investor. We are also very pleased to welcome Mr. Auclair in Sirios’ Board of Directors. Sirios
will benefit from his vast expertise as an exploration and development geologist as well as his
experience as a mining industry executive. His skills and advice will be particularly helpful
during the upcoming busy stages of development of the Cheechoo project.”
About François Auclair, P.Geo.
Mr. Auclair is a consulting geologist with over 30 years of experience, gained in North and
South America, Africa and Europe, working both in exploration and development of gold and
base metals deposits. Mr. Auclair has worked for major mining companies such as the Noranda
group and Ashanti GoldFields, as well as medium-sized producers, such as Rio Narcea Gold. Mr.
Auclair was a member of Aur Resources’ Louvicourt VMS deposit discovery team. Presently,
Mr Auclair is Vice President Exploration of Fancamp Exploration Ltd.
Following his appointment, the Board of Directors of Sirios approved on January 25 the granting
of 250,000 stock options with an exercise price of $ 0.08 per share to Mr. Auclair. This granting
is according to Sirios’ Stock Option Incentive Plan. These options expire five (5) years from the
date of grant.
About the financing
Sirios plans to use most of the proceeds further defining and analysing its Cheechoo gold
property, including advancing both a 1 kg re-assaying program and a preliminary economic
assessment (PEA) of its flagship Cheechoo gold project. The remainder of the funds will be used
for working capital and corporate initiatives.
The financing remains subject to final approval of the TSX Venture Exchange. No finder's fees
were paid for the placement. There will be a hold period of four months and one day on the
common shares issued under this financing.
About the Cheechoo Property
The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay,
Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for
the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of
gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au , with
significant potential to increase this resource (BBA, P-L. Richard, P. Geo.; J. Torrealba, P. Eng.;
D. Evangelista, P. Eng., NI 43-101 Technical Report, Mineral Resource Estimate Update for The
Cheechoo Project, 31/10/2020).
About Sirios
A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec,
Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while
actively exploring the gold potential of its other properties.
This news 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.
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 TSX
Venture Exchange in connection with the Offering, the development of the Cheechoo, Aquilon, Pontax,
Niska, Maskwa and Tilly2 projects and, generally, the above “About Sirios Resources Inc.” paragraph
which essentially describes 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 assumptions that, while considered reasonable by
the Corporation as of the time of such statements, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. These estimates and assumptions 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.sedar.com.
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, Aquilon, Pontax, Niska, Maskwa and Tilly2 projects and, more generally, its expectations and
plans relating to the future. Readers are cautioned 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 statements or to explain any material difference between subsequent actual
events and such forward-looking statements, except to the extent required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Rules of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
website : www.sirios.com