SXOOF - Closing of $1.46m Share Offering
(TheNewswire)
Montréal – TheNewswire - December 21, 2021 – St-GeorgesEco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF)(FSE:85G1) is pleased to announce that it hasclosed a non-brokered private placement of 4,185,715 units at a price of $0.35 per Unit, foraggregate gross proceeds of $1,465,000.10.
Each Unit is comprised of one (1) common share (a“ Share ”) in the capital of the Corporation and one (1) Sharepurchase warrant (a “ Warrant ”) of the Corporation. Each Warrantentitles the holder thereof to purchase a Share at an exercise priceof $0.40 per share until June 21, 2023 (the “ Warrant Expiry Date ”).
In the event that the trading price of the Shares onthe Canadian Securities Exchange (the “ CSE ”) reaches $1.25per Share on any single day, 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 proceedsof the Offering to advance its green hydrogen initiative.
Four different subscribers are the participants. TheCorporation paid finder fee of $98,000 in cash and issued 351,429non-transferable Finder’s warrants entitling the holder thereof topurchase one (1) Share at an exercise price of $0.40 per Share untilthe Warrant Expiry Date.
All securities issued pursuant to this tranche of theOffering are subject to the applicable statutory hold period endingApril 22, 2022. The Offering is subject to the approval of the CSE.
ON BEHALF OF THE BOARD OF DIRECTORS
“Neha E.Tally”
NEHA EDAH TALLY
Corporate Secretary
About St-Georges Eco-Mining Corp.
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 Project and theManicouagan Project on Quebec’s North Shore and has explorationprojects in Iceland. Headquartered in Montreal, St-Georges’ stock islisted on the CSE under the symbol SX , trades on the Frankfurt StockExchange under the symbol 85G1 and on the OTCQBVenture Market for international companies. Investors can findReal-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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