Sirios Completes Second and Final Tranche of its Private Placement for Additional Gross Proceeds of $2 Million
Not for distribution to United States newswire services or for dissemination in the United States
For immediate release TSX-V: SOI
December 16, 2020
Sirios Completes Second and Final Tranche of its Private Placement for
Additional Gross Proceeds of $2 Million
MONTREAL (QUEBEC) - SIRIOS INC. RESOURCES (TSX-V: SOI) (the “Corporation")
is pleased to announce the completion of the second and final tranche of its previously
announced non-brokered private placement , for additional gross proceeds of $2,045,200
(the “Offering”). The aggregate gross proceeds of the offering , including proceeds from the first
tranche, previously closed on December 11, 2020, are $3,430,590. In connection with this
Offering, the Corporation issued (i) 7,395,556 additional Quebec flow -through units of the
Corporation (the “Quebec FT Units”) at a price of $0.18 per Quebec FT Unit , for an amount of
$1,331,200, and (ii) 4,200,000 additional national flow -through units of the Corporation
(the “National FT Units”), at a price of $0.17 per National FT Unit, for an amount of $714,000.
Each Quebec FT Unit and each National FT Unit consists of one common share of the share
capital of the Corporation and one half of a warrant (each whole warrant, a “ Warrant”). Each
Warrant will entitle the holder thereof to acquire one additional common share of the share
capital of the Corporation for a period of 18 months from the closing of the first tranche of the
private placement at a price of $0.23.
All securities iss ued pursuant to this Offering are subject to a hold period of four months and a
day, ending on April 17, 2021, under applicable Canadian securities legislation. The Offering has
received conditional approval from the TSX Venture Exchange and remains subjec t to the final
approval of the TSX Venture Exchange. Intermediation fees totalling $122,442 were paid to
intermediaries in connection with the second tranche of the Offering.
The proceeds of this Offering will be mainly used to advance an important diamond drilling
program on the Cheechoo gold project. The Cheechoo property is located at Eeyou Istchee Baie
James in the immediate vicinity of Newmont Corporation’s Éléonore gold mine. Please see the
Corporation’s website for more information on this project.
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.
About Sirios Resources Inc.
Pioneer in the discovery of significant gold deposits in the Eeyou Istchee James Bay region of
Quebec, Canada. Sirios Resources Inc. focuses its work mainly on its Cheechoo gold discovery,
while actively exploring the high auriferous potential of its other properties.
For more information, visit our website at www.sirios.com or contact:
Dominique Doucet, President, Eng.
514-918-2867
Certain information contained in the press release are subject to receipt of all regulatory
approvals. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture E xchange) 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 O ffering, the development of the
Cheechoo project 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 mea ning 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 desc ription 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 achie ved 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 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, expectat ions,
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.