SXOOF - $10 million Securities Offering Financing
(TheNewswire)
Montréal – TheNewswire - February 10, 2021 – St-Georges Eco-Mining Corp.(CSE:SX) (OTC:SXOOF)(FSE:85G1) (CNSX:SX.CN) is pleased to announce anon-brokered private placement offering of units at a price of $0.50and “flow-through” units at a price of $0.60 as well for totalgross proceeds of up to $10,000,000.
Each Unit is comprised of one (1) common share (each, a“ Share ”) in the capital of the Corporation and one (1) Sharepurchase warrant (each, a “ Unit Warrant ”), entitling the holder topurchase one (1) Share at an exercise price of $0.65 until first 18months from the issuance and $1.05 for the 18 months thereafter,together 36 months expiry period (the “ Unit Warrant Expiry Date ”).
Each FT Unit is comprised of one (1) common share inthe capital of the Company on a “flow-through” basis (each, a“ FT Share ”) and one (1)FT Share purchase warrant (each, a “ FT Warrant ”). EachFT Warrant entitles the holder thereof to purchase one (1) Share at an exercise price of $0.75 until first 18months from the issue and $1.25 for the 18 months thereafter, together36 months expiry period (the “ FT Warrant Expiry Date ”, together with the Unite Warrant Expiry Date, the“ Warrant ExpiryDate ”).
In the event that the trading price of the Shares onthe Canadian Securities Exchange (the “ CSE ”) reaches $0.95 per Share on any singleday , the Corporation may, at its option,accelerate the Warrant Expiry Date by delivery of notice to theregistered holders (an “ Acceleration Notice ”) thereof and issuing apress release (a “ WarrantAcceleration Press Release ”, and, in suchcase, 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 onwhich the Acceleration Notice is sent to warrant holders, and (ii) thedate of issuance of the Warrant Acceleration Press Release.
The Corporation will use the flow through proceeds ofthe Offering to further advance the nickel, exploration at the JulieNickel and Manicouagan Palladium Projects in Québec. The cashcomponent of the offering will be deployed on the other initiatives ofthe Company and on general and administrative expenses.
A finder's fee might be paid on the Offering, subjectto the policies of the CSE.
The securities issued in connection with the Offering are subject to the applicable statutory fourmonths and one day hold period. Closing of the Offering might be donein tranches to accommodate institutional investors and is anticipatedto be on or about March 25, 2021, and is subject to receipt ofapplicable regulatory approvals, including the approval of theCSE.
ON BEHALF OF THE BOARD OF DIRECTORS
"FrankDumas"
FRANCOIS (FRANK) DUMAS
Director & COO
About St-Georges
St-Georges is developing new technologies to solve someof the most common environmental problems in the mining industry. TheCompany controls all the active mineral tenures in Iceland. It alsoexplores for nickel & PGEs on the Julie Nickel Project and theManicougan Palladium Project on the Québec’s North Shore.Headquartered in Montreal, St-Georges’ stock is listed on the CSEunder the symbol SX, on the US OTC under the Symbol SXOOF and on theFrankfurt Stock Exchange under the symbol 85G1
The Canadian Securities Exchange (CSE) has not reviewed and does notaccept responsibility for the adequacy or the accuracy of the contentsof this release.
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