MONTREAL, QUEBEC--(Marketwire - March 1, 2013) -SIRIOS RESOURCES INC. (TSX VENTURE:SOI) completed a first closing of a non-brokered private placement with accredited investors as previously announced. An amount of $175,600 was subscribed, composed of 798,181 shares and the same number of warrants. A director of the Company subscribed for an amount of $25,000. There will be a hold period of four months on all securities issued under this financing.
The placement consists of 2 727 273 units of SIRIOS for maximum gross proceeds totaling $600,000. The Unit price is $0.22 and each unit consists of one Common Share and one warrant. Each warrant will entitle its holder thereof to subscribe for one Common Share at $0.28 per share for a period of 12 months after the closing date of the private placement.
The proceeds of this placement will mainly be used by SIRIOS for exploration activities on its Cheechoo gold project, as well as for general purposes. This private placement is subject to regulatory approval and filings.