Business
Sego Resources Closes Third and Final Tranche of Financing, Successfully Raising a Combined Total of $1,500,000 by way of Private Placements
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2018) - Sego Resources Inc. (TSXV: ...
About this update from Sego Resources Inc.
[{"type":"text","content":"Sego Resources Closes Third and Final Tranche of Financing, Successfully Raising a Combined Total of $1,500,000 by way of Private PlacementsVancouver, British Columbia--(Newsfile Corp. - August 27, 2018) - Sego Resources Inc. (TSXV: SGZ) (\"Sego\" or \"the Company\") is very pleased to announce that the Company has closed the third and final tranche of the financing for total gross proceeds of $282,990 as part of the financing previously announced on April 23, 2018. In this third tranche of the financing, Sego will issue in total 1,420,000 units at $0.05 per unit of Flow Through Units (\"FTU\") for gross proceeds of $71,000, and 4,239,800 units at $0.05 per unit of Non Flow Through units (\"NFTU\") for gross proceeds of $211,990.Combined with the previously announced first closing and second closings of the financing, Sego will issue in total 14,270,000 units at $0.05 per unit of FTU for gross proceeds of $713,500, and 15,730,000 units at $0.05 per unit of NFTU for gross proceeds of $786,500 for total combined proceeds of $1,500,000. Each FTU unit consists of one common share and one-half of one share purchase warrant. Each FTU full warrant entitles the holder to purchase an additional common share at $0.10 for two years from closing of the private placement. Each NFTU consists of one common share and one share purchase warrant. Each NFTU warrant entitles the holder to purchase an additional common share at $0.10 for four years from the closing of the private placement. The securities issued under this third closing are subject to the applicable statutory 4 month + one day hold period from the date of issuance. The closing of this third tranche is subject to regulatory approval.The flow through proceeds will be expended on the continued exploration of the Company's Miner Mountain Copper-Gold Alkalic Porphyry project located near Princeton, BC. The non-flow through proceeds will be used for working capital and general corporate purposes. Certain finder's fees are payable on a portion of the private placement and consist of 7% cash and 7% Broker's Warrant, each Broker Warrant entitling the holder to subscribe for additional NFTU or FTU, as the case may be, for $0.05 for two years from the closing of this tranche of the private placement. This offering is subject to the completion of formal documentation, receipt of all necessary r...