St-Georges Closes First Tranche of Private Placement
Summary
MONTR\xc9AL, QC / ACCESSWIRE / June 26, 2023 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that it has closed a $396,000 first tranche of a non-brokered private placement with one institutional placee.The maximum offering could be up to 6,666,667 flow-through units at a price of $0.18 per FT Unit for aggregate gross proceeds of up to $1,200,000. In the event that the trading price of the common shares of St-Georges on the Canadian Securities Exchange (the "CSE") reaches $0.50 on any single day, the Corporation may accelerate the Expiry Date by issuing a press release (the "Acceleration Press Release"). In such case, the Expiry Date shall be deemed to be the date specified in the Acceleration Press Release.In connection with the First Tranche, the Corporation paid cash finders fees of $23,760 and issued an aggregate of 132,000 compensation warrants (each, a "Compensation Warrant") to eligible finders. Each Compensation Warrant entitles the holder thereof to acquire one common share in the capital of the Corporation at a price of $0.30 for a 36-month period from the issuance date.St-Georges will use the proceeds of the Offering to incur exploration expenditures on the Corporations critical and strategic minerals exploration projects. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.comFor all other inquiries: public@stgeorgesecomining.comThe Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.