Business
Sego Closes Tranche 1 of $925,600 Non-Brokered Placement
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2026) - Sego Resources Inc. (TSXV: SGZ),...
About this update from Sego Resources Inc.
[{"type":"text","content":"Sego Closes Tranche 1 of $925,600 Non-Brokered PlacementVancouver, British Columbia--(Newsfile Corp. - March 16, 2026) - Sego Resources Inc. (TSXV: SGZ), (\"Sego\" or \"the Company\"), has closed Tranche 1 of its non-brokered private placement announced in News Releases February 5, 2026 and February 10, 2026, issuing 7,076,665 shares for a total of $424,600. The closing of the placement is subject to receipt of approval of the TSX-V.Private PlacementThe offering consisted of 15,426,665 units at $0.06 per unit for gross proceeds of $925,600. Due to a delay in the receipt of due diligence on a Personal Information Form the final $501,000 of the offering will be held back. The information revolves around a check performed by an outside agency and is no reflection on the subscriber. The receipt has been expected for some time now and, upon receipt and approval by the TSX-V, a final tranche will be closed. All funds are now with the Company.Each 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 $0.10 for three years from the closing of the private placement. The warrants will contain an acceleration clause that will be in place 4 months and one day after the units are issued. If at any time after the date that is four months and one day after the closing date the closing trading price of the Common Shares on the TSX Venture Exchange is greater than Canadian $0.18 per Common Share for a period of ten (10) consecutive Business Days, then the Company may give notice thereof and, in such case, the ExpiryTime shall be 5:00 p.m. (Vancouver time) on the 30th day after the date on which such notice is deemed to have been given by the Company to the Holder.There will be no Finder's Fees paid on the placement. MI 61-101 DisclosureAn insider of the Company, insider by right of holding >10% of the issued and outstanding shares of the company, participated in the Offering for a total of 500,000 Units by Strashin Developments Limited. The participation by such insiders is considered a \"related-party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has relied on exemptions from the formal valuation and minority shareholder a...