Closing of First Tranche of Financing
Closing of First Tranche of Financing
-FOR IMMEDIATE RELEASE-
Montréal, December 1 , 201 9 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE:
85G1) is pleased to announce that, further to its Septem ber 29, 2019 press release, it has closed a first
tranche of 3,810,000 units, each a n “Hard Cash” or “HC Unit”, and 1,201,000 “flow-through” units,
each a “FT Unit”, at a price of $0.10 per unit of its non-brokered private placement, for aggregate gross
proceeds of $501,100.
Each HC Unit is comprised of one (1) commo n share (each, a “ Share”) in the capital of the Co rporation
and one (1) Share purchase warrant (each whole, a “HC Unit Warrant”), entitling the holder to purchase
one (1) Share at an exercise price of $0.185 until August 29, 2020 (the “Warrant Expiry Date”).
Each FT Unit is comprised of one (1) Share on a “flow-through” basis (each, a “FT Share”) and one-half
of one (1/2) Share purchase warrant (each whole, a “ FT Unit Warrant”), entitling the holder thereof to
purchase one (1) Share at an exercise price of $0.20 per Share until the Warrant Expiry Date.
In the event that the trading price of the Shares on the Canadian Securities Exchange (the “CSE”), or such
other exchange on which the Corporati on becomes listed, reaches $0.25 per Share on any single day, the
Corporation may, at its option, accelerate the Warrant Expiry Date by issuing a press release (a “Warrant
Acceleration Press Release”, and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m.
(Montreal time) on the later of: (i) the day following the 4 months period from the closing date of the
Offering, and (ii) the 30th day following the date of issuance of the Warrant Acceleration Press Release.
The Corporation will use the proceeds of the Offering for exploration work on its propertie s and working
capital.
All securities issued pursuant to this tranche of the Offering are subject to the applicable statutory hold
period ending March 30, 2020. The Offering is subject to the approval of the CSE.
Vilhjalmur T. Vilhjalmsson , President and CEO of the Co rporation, Mark Billings, Chairman of the
Corporation, and Kings of the North Corp. a subsidiary of London ’s BWA PLC a corporation in which
St-Georges owns an equity stake of approximately 23%, acquired respectively, 200,000 HC U nits,
100,000 FT Units and 3,000,000 HC Units , in the Offering and such transactions are considered to be a
“related party transactions” as defined under Multilateral Instrument 61 -101 (“ MI 61 -101”). The
transactions are exempt from the formal valuation and minority s hareholder approval requirements of MI
61-101 as neither the fair market value of any Shares issued to or the consideration paid exceeded 25% of
the Corporation’s market capitalization.
Interim Financial Statements
On Novem ber 29, 2019 the Company publishe d it s 2019 Third Qu arter Interim Financial
Statements. The statements can be found on www.sedar.com
The Financial Statements show a net income of 3 cents per share for the 90 day period ending on
September 30, 2019 and a net income of 2 cents per share for the 270 da y period ending on
September 30,2019. These results are due to an exception al one time gain of $3,227,767
generated by the disposition of assets during the third quarter and a non-recurring payment
of $140,000 from a client of the Corporation’s lithium recovery technology.
ON BEHALF OF THE BOARD OF DIRECTORS
"Vilhjalmur T. Vilhjalmsson"
VILHJALMUR THOR VILHJALMSSON
President & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental
problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral
tenures in Icela nd. It also explores for nickel on the Julie Nickel Project & for industrial minerals on
Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region.
Headquartered in Montreal, St-Georges' stock is listed on the CSE un der the symbol SX, on the US OTC
under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the
adequacy or the accuracy of the contents of this release.