$1.3 million financing for Sirios.MONTREAL--(BUSINESS WIRE)--Jan. 13, 1997--SIRIOS RESOURCES (ME SOI (Silicon On Insulator) A chip architecture that increases transistor switching speed by reducing capacitance (build-up of electrical charges in the transistor's elements), and thus reducing the discharge time. The power requirement is also reduced in some designs. ;SOI.WT.) SIRIOS RESOURCES INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . ("SIRIOS") has completed, as announced on December 5, 1996, the private placement with 50 investors. An amount of $943,500 composed of 629 units was subscribed. Each unit, at a price of $1,500, included 1,962 flow through shares and 346 common shares at $0.65 per share. Furthermore, a second private placement totalling $177,000 was completed with ten shareholders on the same conditions as the first financing. Finally, 99 percent of the warrants expiring on December 22, 1996, were exercised during the last three months, adding $228,932 of cash to SIRIOS. Funds raised will be used to finance diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral programs on the DELESTRE property, Abitibi and LG-3 and ESCALE properties, James Bay James Bay, shallow southern arm of Hudson Bay, c.300 mi (480 km) long and 140 mi (230 km) wide, E central Canada, in Nunavut Territory between Ont. and Que. Numerous rivers flow into the bay; many of these have been developed for hydroelectric power in Quebec (see area, Quebec, where gold grades up to 36 g/t gold (Au) and 47 g/t Au were obtained during the last exploration campain. Once the shares from these financing are issued, 8,182,852 shares of SIRIOS will be issued and outstanding. SIRIOS is an exploration company for precious and base metals.Common Shares and warrants of SIRIOS are listed for trading on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg under SOI and SOI.wt. -0- No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved nor disapproved the content of this release. CONTACT: Sirios Resources Inc. Dominique Doucet, 514/288-3881 514/288-1028 (FAX) domindo@cam.org or Sirios Resources Inc. Marie Jose Girard, 514/483-5149 514/288-1028 (FAX) domindo@cam.org |
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