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Sego Resources closes $37,500 private placement

Mar 9, 2016

SEGO CLOSES PRIVATE PLACEMENT

Sego Resources Inc. has closed a total of $37,500 (1,875,000 units consisting of one common share and one two-year warrant to purchase an additional share at five cents) with its previously announced financing (see news release dated Oct. 21, 2015). The offering will require a discretionary pricing waiver and regulatory approval from the TSX Venture Exchange in order to complete the private placement.

Funds raised are for payment of some outstanding debt and working capital. The use of proceeds will include some outstanding legal fees ($15,000), transfer agent fees ($1,360.65), financial reporting and accounting fees ($10,000), and working capital. The company fully expects to spend the funds as stated; there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary.

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