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Sego Resources: Second Closing - Short Form Offering of Units
Sego Resources: Second Closing - Short Form Offering of Units
About this update from Sego Resources Inc.
[{"type":"text","content":"\nSego Resources: Second Closing - Short Form Offering of Units\n\n\n May 29, 2009 (Baystreet.ca) -- VANCOUVER -- Sego Resources Inc. (TSX-Venture: SGZ) is pleased to announce that it has closed the second tranche of the Offering described in the news release dated April 3, 2009. The Company has issued 8,166,000 Units at a price of $0.07 per Unit for gross proceeds of $571,620. 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 may continue to offer the remaining 2,834,000 units at a price of $0.07 per unit for gross proceeds of up to $198,380.00. \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 2011, 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. \nJ. Paul Stevenson, CEO\nSego Resources Inc.\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\nNo regulatory authority has approved or disapproved the information contained in this news release. This release includes certain statements that may be deemed \"forward-looking statements\". All statements in this release, other than statement of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or d...