Business
Sego Resources Closes $206,000 First Tranche of Financing
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2025) - Sego Resources Inc., (TSXV: SGZ)...
About this update from Sego Resources Inc.
[{"type":"text","content":"Sego Resources Closes $206,000 First Tranche of FinancingVancouver, British Columbia--(Newsfile Corp. - August 7, 2025) - Sego Resources Inc., (TSXV: SGZ) (\"Sego\" or \"the Company\") is pleased to announce that it 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 10,300,000 units at $0.02 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 $0.05 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 December 08, 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.Finder's fees will be payable on a portion of the private placement and will consist of 7% cash. An individual, Barry Mensing will receive a $7,000.00 Finder's Fee.The total offering will continue with up to 20,000,000 flow-through units (\"FTU\") at $0.025 per unit for gross proceeds of up to $500,000 and up to 10,000,000 non-flow-through units (\"NFTU\") at $0.02 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 FTU 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 $0.05 for two years from closing of the private placement. Each NFTU 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 $0.05 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, BC. The non-flow-through proceeds will be used for working capital and general ...