Sego Resources closes first tranche of financing
2025-08-07 19:48 ET – News Release
Mr. J. Paul Stevenson reports
SEGO RESOURCES CLOSES $206,000 FIRST TRANCHE OF FINANCING
Sego Resources Inc. has received conditional approval from the TSX Venture Exchange for closing of the first tranche of the financing announced on July 8, 2025. On closing, Sego will issue 10.3 million units at two cents per unit for gross proceeds of $206,000.
Each unit of the financing will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional common share at five cents for three years from the closing date. The securities issued on closing are subject to the applicable statutory four-month-and-one-day hold period ending Dec. 8, 2025.
The proceeds will be used for general working capital. The company fully expects to spend the funds as stated, however, there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary.
Finders’ fees will be payable on a portion of the private placement and will consist of 7 per cent in cash.
An individual, Barry Mensing will receive a $7,000 finder’s fee.
The total offering will continue with up to 20 million flow-through (FT) units at 2.5 cents per unit for gross proceeds of up to $500,000 and up to 10 million non-flow-through (NFT) units at two cents per unit. The flow-through units and non-flow-through units may vary in totals depending on demand. The total of the financing is expected to be $700,000.
Each FT unit will consist of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at five cents for two years from closing of the private placement. Each NFT 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 five cents for three years from the closing of the private placement.
The placement may close in several tranches and insiders may participate in the private placement. The flow-through proceeds will be expended on continued exploration on the company’s Miner Mountain copper-gold alkalic porphyry project and South Gold zone, near Princeton, B.C. The non-flow-through proceeds will be used for working capital and general corporate purposes.
There is no material change about the company that has not been generally disclosed.
We seek Safe Harbor.
Related Posts
Tags
Share This
