St-Georges Closes Oversubscribed Financing
St-Georges Closes Oversubscribed Financing
-FOR IMMEDIATE RELEASE-
Montréal, November 25, 2020 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF)
(FSE: 85G1) is pleased to announce that, further to its November 17, 2020 press release, it has closed a
second and final tranche of 2,150,000 “flow-through” Shares at $0.10 per FT Share, and 6,400,000 units
at a price of $0.10 per U nit of its non-brokered private placement , for aggregate gross proceeds of
$855,000. Together with the offering tranche closed last week, the company raised $2,025,000 in total
financing.
Each Unit is comprised of one (1) common share (each, a “ Share”) in the capital of the Co rporation and
one (1) Share purchase warrant (each, a “Unit Warrant”), entitling the holder to purchase one (1) Share
at an exercise price of $0.185 until November 24, 2022 (the “Warrant Expiry Date”).
In the event that, during the period of 4 months following the closing date of the Offering, the trading
price of the Shares on the Canadian Securities Exchange (the “CSE”) reaches $0.45 per Share on any
single day, the Corporation 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 Release”, 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 warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
The Corporation will use the proceeds of the Offering to further advance the nickel extraction technology,
exploration at the Julie Nickel and Manicouagan Palladium Project in Québec, and to initiate the
definition of a maiden gold resource estimate at the Thor Gold project in the suburbs of Reykjavik,
Iceland.
The Corporation paid a total of $4,000 of finder’s fees on this second tranche.
All securities issued pursuant to this tranche of the Offering are subject to the applicable statutory hold
period ending March 25, 2021. The Offering is subject to the approval of the CSE.
Insiders’ participation:
Vilhjalmur Thor Vilhjalmsson $50,000
Frank Dumas, $90,000
Enrico Di Cesare $25,000
Mark Billings $20,000
Richard Barnett $15,000
Total placees: 15
Multilateral Instrument 61-101
Given the proposed participation of the insider holders, the proposed financing cons titutes a “relate d 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 minorit y shareh older app roval
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
“Francois (Frank) Dumas”
FRANK DUMAS
COO & Director
About St-Georges
St-Georges is developi ng new t echnologies to solve s ome of the most com mon environmental pro blems in the
mining industry. The Company controls all the active mineral tenures in Iceland. It a lso explores for nickel & PGEs
on the Julie Nickel Project and the Manicougan Palladium Project on the Québec’s North Shore. Headquartered in
Montreal, St-Georges’ stock is listed on t he CSE under the sy mbol 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 no t accept responsibility for the adequacy or
the accuracy of the contents of this release.