SEGO cancels May 15 placement, arranges new one

Dec 29, 2014

SEGO RESOURCES INC. ANNOUNCES NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT

SEGO Resources Inc. has cancelled the private placement announced May 15, 2014, and arranged a new flow-through private placement expected to close by Dec. 31, 2014.

SEGO Resources plans to sell by way of a non-brokered private placement up to 200,000 flow-through units at a price of five cents per unit to raise gross proceeds of $10,000 subject to TSX Venture Exchange approval. Each unit will consist of one flow-through share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at a price of 10 cents for a period of 24 months from the date of issuance. All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to regulatory approval. SEGO Resources will use the gross proceeds from the sale of the flow-through shares for Canadian exploration expenses within the meaning of the Income Tax Act (Canada), with SEGO Resources using its best efforts to ensure that such CEE qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada) related to the exploration of the company’s mineral exploration project located near Princeton, B.C. The company expects to renounce such Canadian exploration expenses with the effective date of Dec. 31, 2014.

The company intends to use the net proceeds of the offering for exploration of the Miner Mountain porphyry copper/gold project near Princeton, B.C. A current technical report covering the most recent work at Miner Mountain is available on SEDAR.

The company plans to use exemptions for accredited investors, and friends and family.

SEGO’s sole project is the Miner Mountain project, a copper/gold porphyry project near Princeton, B.C., 15 kilometres north of Copper Mountain Mining Corp.’s Mitsubishi’s Copper Mountain mine. The Miner Mountain project is situated within the traditional territory of the Upper Similkameen Indian Band, with which SEGO has a memorandum of understanding. The Miner Mountain property is 2,056.54 hectares in size.

http://www.segoresources.com/newsnew.html#newsnew.html