Sirios completes Capital Raise of $1,175,325
TSX-V : SOI
Not for distribution to United States newswire services or for dissemination in the United States
July 28th, 2022
Sirios completes Capital Raise of $1,175,325
MONTREAL (QU EBEC) – SIRIOS RESOURCES INC. (TSX -V: SOI ) (the “Corporation”)
announces that it has closed a non-brokered private placement for aggregate gross proceeds of $1,175,325
(the “Offering”). The Offering consisted of the issuance of 19 588 749 units of the Corporation
(the “Units”) at a price of $0.06 per Unit. Each Unit consists of one common share 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 $0.1 0 per Common Share for a
period of 24 months from the date of issuance thereof. 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 in connection with this Offering. The Common Shares and the Warrants issued
pursuant to th is Offering are subject to a restricted hold period of four months and one day, ending on
November 29th, 2022, under applicable Canadian securities laws. The Offering remains subject to the final
approval of the TSX Venture Exchange.
The President and Chief Executive Officer has subscribed in the Offering for a total of $12,000, 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 TSX Venture Exchange
Policy 5.9 – Protection of Minority Security Holders in Special Transactions . However, 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 exceed ed 25% of the Corporation’s market
capitalization. None of the Corporation’s dire ctors have expressed any contrary views or disagreements
with respect to the 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 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 th e 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 Inc.
Pioneer in the discovery of significant gold deposits in the Eeyou Istchee James Bay region of Québec,
Canada. Sirios Resources Inc. focuses its work mainly on its Cheechoo gold discovery, while actively
exploring the high auriferous potential of its other properties.
Visit our website at www.sirios.com or contact:
Dominique Doucet, President, Eng.
514-918-2867
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.
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 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 forw ard-
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 di ffer 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 ab out management’s endeavors to develop the
Cheechoo, Aquilon and Maskwa 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 imp ortant 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 forw ard-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.