SXOOF - $5.5 Million Securities Offering Financing
(TheNewswire)
Montréal – TheNewswire - November 11, 2021 – St-GeorgesEco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF)(FSE:85G1) is pleased to announce a non-brokered private placement offering of“flow-through” units at a price of $0.55 for total gross proceedsof up to $5,500,000.
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 half aFT Share purchase warrant (each, a half “ FT Warrant ”).
Each half FT Warrant entitles the holder thereof topurchase half a Share at an exercise price of $0.65 per share. The warrants will expire 24 months after theirissuance or 30 days after the issuance of a press release acceleratingthe expiration of the warrants.
In the event that the trading price of the Shares onthe Canadian Securities Exchange (the “ CSE ”) reaches $1.25 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 exploration effort on theManicouagan Projects in Québec.
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.
Management has received interest from institutionalinvestors for the majority of the Offering and thus expects to be ableto close the Offering on or about November 29, 2021, subject toreceipt of applicable regulatory approvals, including the approval ofthe CSE.
Other financing efforts related to the EVSX recyclingplant, the fertilizer production unit, and the proposed and understudy commercial spodumene plant are being reviewed. The Company isnot expecting to issue equity but, instead, is in talks withinstitutions to issue debt, bonds and potentially conduct a green bondoffering with certain institutions following the reception of thefeasibility study.
ON BEHALF OF THE BOARD OF DIRECTORS
"FrankDumas"
FRANCOIS (FRANK) DUMAS
Director & COO
About St-Georges
St-Georges develops new technologies to solve some ofthe most common environmental problems in the mining sector, includingmaximizing metal recovery and full circle EV battery recycling. TheCompany explores for nickel & PGEs on the Julie Nickel Project andthe Manicougan Palladium Project on Quebec's North Shore and hasmultiple exploration projects in Iceland, including the Thor GoldProject. Headquartered in Montreal, St-Georges' stock is listed on theCSE under the symbol SX and trades on the Frankfurt Stock Exchangeunder the symbol 85G1 and on the OTCQB VentureMarket for early stage and developing U.S. and internationalcompanies. Companies are current in their reporting and undergo anannual verification and management certification process. Investorscan find Real-Time quotes and market information for the company on www.otcmarkets.com
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
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