Ms. Neha Tally reports
ST-GEORGES ANNOUNCES A PRIVATE PLACEMENT OFFERING OF UP TO $1 MILLION
St-Georges Eco-Mining Corp. intends to complete a non-brokered private placement financing offering of up to 20 million units of the company at a price of five cents per unit for proceeds of up to $1-million.
Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of 7.5 cents per share for a period of 24 months from the date of issuance. Finders' fees may be paid to some qualified intermediaries on the financing.
The warrants will be subject to an acceleration provision whereby, if the volume-weighted average trading price of the company's common shares on the Canadian Securities Exchange is equal to or greater than 16 cents per share for a period of five consecutive trading days, the company may, at its discretion, accelerate the expiry date of the warrants by providing a notice to holders, following which the warrants will expire no later than 30 days from the date of such notice.
The proceeds of the offering are expected to be used for capital expenditures for operational upgrades and general working capital for the company's battery processing operations in its subsidiary EVSX Corp., for the completion of a National Instrument 43-101 technical report for the Thor gold project, for the preliminary work required for the independent listing of Iceland Resources and for general working capital purposes.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending intellectual property within several highly prospective subsidiaries including: EVSX, a leading North American advanced battery processing and recycling initiative; St-Georges Metallurgy, with metallurgical research and development and related IP, including processing and recovering high-grade lithium from spodumene; Iceland Resources, with high-grade gold exploration projects including the flagship Thor project; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Quebec exploration projects including the Manicouagan and Julie nickel, copper and platinum group element critical mineral projects on Quebec's North Shore, and the Notre-Dame niobium project in Lac St-Jean.
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