Sego Resources closes first tranche of financing

Executive Summary

• Sego Resources Inc. closed the first tranche of its financing, issuing 10.3 million units at $0.02 per unit for gross proceeds of $206,000.
• Units consist of one common share and one warrant; warrants allow purchase of an additional share at $0.05 for up to three years.
• Proceeds are earmarked for general working capital, with future tranches targeting up to $700,000 total (including flow‑through and non‑flow‑through units).

Key Details

• First Tranche: 10.3 M units @ $0.02/unit → $206,000 gross proceeds.
• Unit Composition: 1 common share + 1 share purchase warrant per unit.
• Warrant Terms (first tranche): Right to buy an additional common share at $0.05 for three years from closing.
• Hold Period: Statutory four‑month‑and‑one‑day hold ending Dec 8, 2025.
• Use of Proceeds (first tranche): General working capital; possible reallocation for sound business reasons.
• Finder’s Fees: 7% cash on a portion of the private placement; $7,000 payable to Barry Mensing.
• Total Offering Structure:
• Up to 20 M flow‑through (FT) units @ $0.025/unit → up to $500,000 gross proceeds.
• Up to 10 M non‑flow‑through (NFT) units @ $0.02/unit → up to $200,000 gross proceeds.
• Total expected financing: $700,000.
• FT Unit Composition: 1 flow‑through common share + 1 warrant; warrant allows purchase at $0.05 for two years from closing.
• NFT Unit Composition: Same as first tranche (1 common share + 1 warrant); warrant term three years.
• Planned Use of Future Proceeds:
• Flow‑through proceeds: Continued exploration on Miner Mountain copper‑gold alkalic porphyry project and South Gold zone near Princeton, B.C.
• Non‑flow‑through proceeds: Working capital and general corporate purposes.
• Closing Mechanics: Placement may close in several tranches; insiders permitted to participate.

Notable Quotes

(No executive quotes provided in the release.)