Sego Resources arranges $800,000 private placement

Executive Summary

• Sego Resources Inc. is conducting a non-brokered private placement to raise up to $800,000 for exploration and general working capital at its Miner Mountain project in British Columbia.
• The offering consists of 13,333,333 units priced at $0.06 per unit, with insiders participating in the placement.
• Each unit includes one common share and one common share purchase warrant exercisable at $0.10 for three years, subject to an acceleration clause if the share price exceeds $0.18 for 10 consecutive days.

Key Details

• Offering Size: Up to $800,000 in gross proceeds.
• Units Issued: 13,333,333 units.
• Price Per Unit: $0.06.
• Use of Proceeds: General working capital, general corporate purposes, and continued exploration of the Miner Mountain copper-gold alkalic porphyry project near Princeton, B.C.
• Warrant Terms:
  • Each unit includes one common share purchase warrant.
  • Exercise Price: $0.10 per share.
  • Term: Three years from the closing of the private placement.
  • Acceleration Clause: If the closing trading price on the TSX Venture Exchange exceeds $0.18 for 10 consecutive business days (starting four months and one day after issuance), the company may accelerate the expiry to 5 p.m. Vancouver time on the 30th day after notice.
• Insider Participation: Insiders are participating in the private placement.
• Finders' Fees: None.
• Regulatory/Exemptions:
  • Subject to TSX Venture Exchange approval and other customary conditions.
  • Utilizing B.C. Instrument 45-536 to allow non-accredited investors (provided they receive advice from a registered investment dealer).
  • Four-month hold period applies to all securities sold.
• Minimum Offering: No minimum offering size.

Notable Quotes

• No direct quotes from management were included in the provided text.