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Sego Resources: First Closing - Short Form Offering of Units
Sego Resources: First Closing - Short Form Offering of Units
About this update from Sego Resources Inc.
[{"type":"text","content":"\nSego Resources: First Closing - Short Form Offering of Units\n\n\n Apr. 28, 2009 (Baystreet.ca) -- Sego Resources Inc. (TSX.V:SGZ) (\"Sego\" or the \"Company\") is pleased to announce that it has closed the first tranche of the Offering described in the news release dated April 3, 2009. The Company has issued 2,000,000 Units at a price of $0.07 per Unit for gross proceeds of $140,000. Each unit (a Unit\") consists of one common share and one share transferable purchase warrant (a \"Warrant\") which will entitle the holder to purchase on additional common share at a price of $0.10 per share for a period of five years.\nNorthern Securities Inc. (\"Northern\") acted as agent and received a 12% commission, a 5% work fee and non-transferable options equal to 25% of the number of Units sold pursuant to this closing.\nThe Units were sold pursuant to a Short Form Offering Document dated April 2, 2009, a copy of which is available on SEDAR at www.sedar.com. The Company will continue to offer the remaining 11,000,000 units at a price of $0.07 per unit for gross proceeds of up to $770,000. \nThe net proceeds of the Offering will be used for working capital and further exploration of the Company's Miner Mountain Project. The Miner Mountain Project is a copper gold porphyry property located near Princeton, B.C., and is 15 kilometres north of Copper Mountain Mining Corporation's former copper producer (closed 1996) that is scheduled to resume production in 2010, following a recent favourable feasibility study. The Miner Mountain Project is situated within the traditional territory of the Upper Similkameen Indian Band with whom Sego has a memorandum of understanding. The Miner Mountain property is 2400 hectares in size. Sego Resources Inc. is a mineral exploration company, exploring a large scale porphyry copper -gold target northeast of Princeton B.C. Exploration to date, has located zones of high grade surface copper-gold mineralization and drilling has confirmed the presence of significant copper-gold grades at depth. Sego has signed an MOU with the Upper Similkameen Indian Band which provides a constructive framework for future development and exploration. Management - Experienced in Wealth Building CEO, J. Paul Stevenson has many years of experience in the mining industry and is a leader in aboriginal engagement in the resources sector....