St-Georges Increase Size of Previously Announced Mixed Flow-Through & Hard Cash
St-Georges Increase Size of Previously Announced Mixed Flow-Through & Hard Cash Financing
-FOR IMMEDIATE RELEASE-
Montréal, November 17, 2020 – St-Georges Eco -Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is
pleased to announce that it has increased the size allocation of its previously announced non -brokered private
placement offering of common shares and common share warrants units at a price of $0.10 and “flow -through”
shares at a price of $0.10. The total gross proceeds will be increased from $1,6 50,000 to $1,800,000 . All other
terms will stay the same.
Proceeds of this Offering will be used to further advance the nickel extraction technology, explor ation at the Julie
Nickel and Manicouagan Palladium Project in Qu ébec, and to initiate the definiti on of a maiden gold resource
estimate at the Thor Gold project in the suburbs of Reykjavik, Iceland.
Each “Hard-Cash” Unit is comprised of one (1) common share in the c apital of the Company (each, a “Share”) and
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 twenty-four (24) months from the date of
issuance (the “Unit Warrant Expiry Date”).
In the event that, during the pe riod 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 $0.45 per Share on any single day, the Company
may, at its option , accelerate the Warrant Expiry Date by de livery of notice to the registered holder s (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 fo llowing the later
of (i) the date on whic h the Acceleration Notice is sent to w arrant holders, and (ii) the date of issuance of the
Warrant Acceleration Press Release.
Institutional investors and an Icelandic drilling company represent the bulk of th is private placement. Insiders are
also expected to participate up to the ma ximum level authorised. The company has set aside an allocation for other
interested parties until November 18. The placement is expected to close by week’s end.
A finder’s fee might be paid on the Offering, subject to the poli cies 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 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 U nits to be distributed to, nor the fair m arket
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.
Iceland Thor Gold Project Update
St-Georges’ team has now received initial and preliminary assay results from the Thor Gold Project research drill
hole. Results are being compiled and interpreted and should be released in the coming week.
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 all the active mineral tenures in Iceland. It also explores for nick el & 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 the CSE under the sy mbol SX, on the US OTC under the Sy mbol 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.