Mr. J. Paul Stevenson reports
SEGO ANNOUNCES FLOW THROUGH FINANCING
Sego Resources Inc. has arranged a critical mineral flow-through financing.
The gross proceeds of the financing will be used for exploration at the Miner Mountain project, located near Princeton, B.C.
The Miner Mountain project is an alkalic porphyry copper-gold exploration project, which encompasses near-surface disseminated gold mineralization and porphyry copper-gold targets.
Private placement
The offering will consist of up to 19.4 million flow-through common shares at five cents per share for gross proceeds of up to $970,000. There will be no warrants attached to the offering.
Insiders of the company will participate in the private placement. A commission of 7 per cent cash and 7 per cent warrants exercisable at five cents for one year will be paid on a portion of the private placement.
This offering will be subject to the completion of formal documentation and receipt of all necessary regulatory approvals, including the TSX Venture Exchange and other customary conditions. All of the securities sold pursuant to the offering will be subject to a four-month hold period from the date of closing.
There is no material change about the issuer that has not been generally disclosed.
About the project
Sego is 100-per-cent owner of the Miner Mountain project, an alkalic copper-gold porphyry and gold exploration project located near Princeton, B.C. The property is 2,056 hectares in size and is 15 kilometres north of the Copper Mountain mine operated by Hudbay Minerals Inc. Sego has a memorandum of understanding with the Upper Similkameen Indian Band on whose traditional territory the Miner Mountain project is situated. Sego has received an award of excellence for its reclamation work on the Miner Mountain project.
We seek Safe Harbor.
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