Business
Second Closing - Short Form Offering of Units
VANCOUVER, May 29 /CNW/ - Sego Resources Inc. ("Sego" or the "Company") is pleased to announce th...
About this update from Sego Resources Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, May 29 /CNW/ - Sego Resources Inc. ("Sego" or the "Company")\nis pleased to announce that it has closed the second tranche of the Offering\ndescribed in the news release dated April 3, 2009. The Company has issued\n8,166,000 Units at a price of $0.07 per Unit for gross proceeds of $571,620.\nEach unit (a Unit") consists of one common share and one share transferable\npurchase warrant (a "Warrant") which will entitle the holder to purchase on\nadditional common share at a price of $0.10 per share for a period of five\nyears.\n\n\nNorthern Securities Inc. ("Northern") acted as agent and received a 12%\ncommission, a 5% work fee and non-transferable options equal to 25% of the\nnumber of Units sold pursuant to this closing.\n\n\nThe Units were sold pursuant to a Short Form Offering Document dated\nApril 2, 2009, a copy of which is available on SEDAR at www.sedar.com. The\nCompany may continue to offer the remaining 2,834,000 units at a price of\n$0.07 per unit for gross proceeds of up to $198,380.00.\n\n\nThe net proceeds of the Offering will be used for working capital and\nfurther exploration of the Company's Miner Mountain Project. The Miner\nMountain Project is a copper gold porphyry property located near Princeton,\nB.C., and is 15 kilometres north of Copper Mountain Mining Corporation's\nformer copper producer (closed 1996) that is scheduled to resume production in\n2011, following a recent favourable feasibility study. The Miner Mountain\nProject is situated within the traditional territory of the Upper Similkameen\nIndian Band with whom Sego has a memorandum of understanding. The Miner\nMountain property is 2400 hectares in size.\n\n\nJ. Paul Stevenson, CEO\nSego Resources Inc.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nNo regulatory authority has approved or disapproved the information\ncontained in this news release. This release includes certain statements that\nmay be deemed "forward-looking statements". All statements in this release,\nother than statement of historical facts, that address future production,\nreserve potential, exploration drilling, exploitation activities ...