Sego closes $424,600 first tranche of financing
2026-03-16 19:19 ET – News Release
Mr. J. Paul Stevenson reports
SEGO CLOSES TRANCHE 1 OF $925,600 NON-BROKERED PLACEMENT
Sego Resources Inc. has closed tranche 1 of its non-brokered private placement announced in news releases dated Feb. 5, 2026, and Feb. 10, 2026, issuing 7,076,665 shares for a total of $424,600. The closing of the placement is subject to receipt of approval of the TSX Venture Exchange.
Private placement
The offering consisted of 15,426,665 units at six cents per unit for gross proceeds of $925,600. Due to a delay in the receipt of due diligence on a personal information form, the final $501,000 of the offering will be held back. The information revolves around a check performed by an outside agency and is no reflection on the subscriber. The receipt has been expected for some time now and, upon receipt and approval by the TSX-V, a final tranche will be closed. All funds are now with the company.
Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at 10 cents for three years from the closing of the private placement. The warrants will contain an acceleration clause that will be in place four months and one day after the units are issued. If at any time after the date that is four months and one day after the closing date the closing trading price of the common shares on the TSX Venture Exchange is greater than 18 cents per common share for a period of 10 consecutive business days, then the company may give notice thereof and, in such case, the expiry time shall be 5 p.m. Vancouver time on the 30th day after the date on which such notice is deemed to have been given by the company to the holder.
There will be no finders’ fees paid on the placement.
Multilateral Instrument 61-101 disclosure
An insider of the company, insider by right of holding more than 10 per cent of the issued and outstanding shares of the company, participated in the offering for a total of 500,000 units by Strashin Developments Ltd. The participation by such insiders is considered a related-party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25 per cent of the company’s market capitalization (as determined under MI 61-101).
All of the securities sold pursuant to the offering will be subject to a four-month-and-one-day hold period from the date of closing. The hold period will expire on July 17, 2026.
The company fully expects to spend the funds for general working capital and exploration of the Miner Mountain project; there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary.
None of the securities issued in the offering will be registered under the United States Securities Act of 1933, as amended.
Most warrants that expired March 15, 2026, have been exercised from a total of five million warrants, 4.65 million have been exercised for a total of $232,500.
Drill hole planning is proceeding and a team is preparing to go to the project to locate drill holes.
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 which 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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