Sego closes $501,000 final tranche of placement

Executive Summary

• Sego Resources Inc. has closed the final tranche of its non-brokered private placement, raising an additional $501,000.
• The total offering consists of 15,426,665 units at $0.06 per unit, generating gross proceeds of $925,600.
• The funds are intended for general working capital and exploration of the Miner Mountain project, with drill hole planning currently underway.

Key Details

• Transaction Structure: Non-brokered private placement, final tranche closed.
• Total Gross Proceeds: $925,600.
• Final Tranche Proceeds: $501,000.
• Units Issued (Total): 15,426,665 units.
• Units Issued (Final Tranche): 8.35 million units.
• Price Per Unit: $0.06.
• Warrant Terms: Each unit includes one common share purchase warrant.
  • Exercise Price: $0.10 per share.
  • Term: Three years from closing.
  • Acceleration Clause: Triggered if the closing trading price on TSX Venture Exchange exceeds $0.18 for 10 consecutive business days, occurring 4 months and 1 day after issuance. Notice results in expiry 30 days after notice.
• Insider Participation: FruchtExpress Grabher GMB & Co. KG (insider holding >10%) purchased 8.35 million units.
• Regulatory Status: Subject to TSX Venture Exchange approval; relied on exemptions from formal valuation and minority shareholder approval under Multilateral Instrument 61-101.
• Hold Period: 4 months and 1 day from closing, expiring July 27, 2026.
• Use of Proceeds: General working capital and exploration of the Miner Mountain project.
• Operational Update: Drill hole planning is proceeding; a team is preparing to locate drill holes at the project.
• Project Details: Sego owns 100% of the Miner Mountain project, a 2,056-hectare alkalic copper-gold porphyry and gold exploration project near Princeton, B.C., located 15 km north of the Copper Mountain mine.

Notable Quotes

• "The company fully expects to spend the funds for general working capital and exploration of the Miner Mountain project."
• "Drill hole planning is proceeding, and a team is preparing to go to the project to locate drill holes."