Sego Resources issues 7.85 million shares for debt

Aug 18, 2016

SEGO RESOURCES INC. – SHARES FOR DEBT

Sego Resources Inc. has issued 7,857,500 common shares at a price of five cents per share to settle debts totalling $392,875 (see news release dated June 20, 2016).

Sego Resources is currently placing a private placement to continue drilling the Miner Mountain copper/gold porphyry project, near Princeton, B.C. (see news release dated Aug. 3, 2016).

Management believes that the shares for debt were necessary to strengthen the company’s balance sheet and thereby increase the attractiveness of the company for future private placement financings.

The shares for debt have received regulatory approval. The shares issued have a hold period of four months (expiring on Dec. 16, 2016).

Sego is the 100-per-cent owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, B.C. The property is 2,056.54 hectares in size, and is located 15 kilometres north of the Copper Mountain mine operated by Copper Mountain Mining Corp. and Mitsubishi Copper. Sego has a memorandum of understanding with the Upper Similkameen Indian Band, in whose traditional territory the Miner Mountain project is situated. Sego holds a five-year exploration permit for the property and has received an award of excellence for its reclamation work at Miner Mountain.

http://segoresources.com/newsnew.html