St-Georges Arranged Mixed Flow-Through & Hard Cash Financing for up to $1,500,000 to Advance Pilot Plant, Gold & Nickel Projects
St-Georges Arranged Mixed Flow-Through & Hard Cash Financing for up to $1,500,000 to
Advance Pilot Plant, Gold & Nickel Projects
-FOR IMMEDIATE RELEASE-
Montreal, September 2 9, 201 9 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is
pleased to announce a non -brokered private placement offering of units at a price of $0. 10 and “flow-through” units
at a price of $0.10 , as well as total gross proceeds of up to $1,500,000. Proceeds of this Offering will be used to
further advance the pilot p lant design , lithium and nickel extraction technology, explor ation at the Julie Nickel
Project in Quebe c, and to initiate the definition of a maiden gold resources estimate at the Thor Gold pro ject in the
suburbs of Reykjavik, Iceland.
Each “Hard-Cash” Unit is comprised of one (1) common share in the capital of the Company ( each, a “Share”) and
one-half of one (1) Share purchase warrant ( each whole, a “Unit Warrant”). Each Unit Warrant entitles the holder
to purchase one (1) Share at an exercise price of $0 .185 per Share for a period of nine (9) months from the date of
issuance (the “Unit Warrant Expiry Date”).
Each FT Unit is comprised of, on a “flow -through” basis, one (1) common share in the capital of the Company
(each, a “FT Share”) and one-half of one (1) FT Share purchase warrant (each whole, a “ FT Warrant”). Each FT
Warrant entitles the holder thereof to purchase one (1) FT Share at an exercise price of $0.20 per FT Share for a
period of nine (9) months from the date of issuance (the “ FT Warrant Expir y Da te”), together with the Unit
Warrant Expiry Date, the “Warrant Expiry Date”).
In the event that, during the perio d of 4 months following the closing d ate of the Offering , the trading price of the
Shares on the Canadian Securities Exchange (the “ CSE”) reaches $0.25 per Share on any single day , the Company
may, at its option , accelerate the Warrant Expiry Date by delivery of notice to the registered holders (an
“Acceleration Notice”) thereof and issuing a press release (a “ Warrant Acceleration Press Relea se”, and, in such
case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. ( Montreal time) on the 30th day following the later
of (i) the date on which the Acceleration Notice is sent to w arrant holders, and (ii) the date of issuance of the
Warrant Acceleration Press Release.
A finder’s fee might be paid on the Offering, subject to the policies of the CSE. The securities issued in connection
with the Offering are subject to the applicable statutory four-month and one day hold period. Closing of the Offering
is subject to receipt of applicable regulatory approvals, including the approval of the CSE.
Multilateral Instrument 61-101
Given the proposed participation of the insider holders, the proposed financing constitutes a “related party
transaction” wit hin the meaning of Multilateral Instrument 61 -101 – Protection of Minority Security holders in
Special Transactions (“MI 61-101”).
St-Georges is relying on an exemption to both the formal valuation and the minority shareholder approval
requirements of MI 61-101, as neither the fair market value of the Units to be distributed to, nor the fair market
value of the consideration to be r eceived by St -Georges from the insider holders in connection with the proposed
financing exceeds 25% of St-Georges’ share capitalisation.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur T. Vilhjalmsson”
VILHJALMUR THOR VILHJALMSSON
President & CEO
About St-Georges
St-Georges is developing new t echnologies to solve 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 Iceland. It also explores for nick el on the Julie Nickel Project, industrial minerals on Quebec’ s North
Shore, and lithium and rar e metals in Northern Quebec and the Abitibi region. Headquartered in Montreal, St -
Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the
Frankfurt Stock Exchange under the symbol 85G1
The Canadian Securitie s Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or
the accuracy of the contents of this release.