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Message: Announcement of a $1.5M Private Placement
| May 13, 2009 |
| Sirios Resources Inc.: Announcement of a $1.5M Private Placement |
| MONTREAL, QUEBEC--(Marketwire - May 13, 2009) - SIRIOS RESOURCES INC. (TSX VENTURE:SOI) reports its intent to undertake a non-brokered private placement by means of an offering memorandum in the province of Quebec. This placement consists of a maximum of 783 A units and 717 B units of SIRIOS for a maximum amount of $1,500,000. The A unit price is $1,000 and each unit consists of 8,500 Common Flow-Through Shares at $0.11765 per share, and 4,250 warrants. The B unit price is $1,000 and each unit consists of 11,000 Common Shares at $0.09091 per share and 11,000 warrants. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.15 per share for a period of 12 months after the closing date and at $0.17 during the following 12 months. The proceeds of this placement will mainly be used by SIRIOS for exploration activities on its ESCALE gold property, and on the new COGNAC gold-copper property, as well as for general purposes. Sirios can pay certain intermediaries a finder's fee in cash based on the subscriptions introduced by those intermediaries, up to a maximum of 10% of the total amount of subscriptions introduced. There will be a hold period of 4 months on all securities issued under this financing. The TSX Venture has conditionally approved the private placement. All those interested by this private placement should contact the Company. |
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