Montreal, December 30th, 2022 – St-Georges Eco-Mining corporation (CSE: SX) (OTCQB: SXOOF) (FSE: 85G1) is pleased to announce that it has completed a private placement financing offer of 5,000,000 accredited units at a price of $0.41 per unit for a total of $2.05 million, without the involvement of brokers.
Each accredited unit is composed of one common share issued on an accredited basis and one common share purchase warrant (each, a ” Warrant “). Each warrant allows its holder to purchase one common share of the corporation at a price of $0.50 for a period of 36 months from its issuance.
In connection with the private placement, the corporation paid cash fees in the amount of $123,000 to a qualified intermediary. All securities issued pursuant to the private placement are subject to a mandatory lock-up period of four months and one day in accordance with applicable securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The Securities have not been and will not be registered under the United States Securities Act.
Securities Act of 1933, as amended (the “U.S. Securities Act”), or any other state securities law. They may not be offered or sold in the United States or to or for the account or benefit of any U.S. Person (as defined in Regulation S of the U.S. Securities Act]), unless registered in under the U.S. Securities Act and applicable state securities laws or under an exemption to such registration requirements.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including metal recovery and complete battery recycling. The corporation explores for nickel and PGEs on its Manicouagan and Julie projects on Quebec’s North Shore, and holds several mining exploration projects in Iceland, including the Thor gold project. The corporation is based in Montreal and the shares are listed on the CSE (Bourse des
Canadian Securities) under the symbol SX, on the OTC in the United States under the symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.