Sirios Resources arranges $20-million offering

Executive Summary

• Sirios Resources Inc. has entered into an agreement for a $20 million brokered private placement offering of flow-through units (FT) and hard-dollar units (HD) under the Listed Issuer Financing Exemption (LIFE).
• The offering consists of up to 40,740,740 FT units at $0.27 per unit and up to 45 million HD units at $0.20 per unit, with an over-allotment option for an additional 25 million HD units.
• Proceeds from FT units will be used for eligible Canadian exploration expenses, while net proceeds from HD units will fund further exploration, working capital, and general corporate expenses.

Key Details

• Total Offering Size: Up to $20 million in gross proceeds.
• Flow-Through Units (FT):
  • Quantity: Up to 40,740,740 units.
  • Price: $0.27 per FT unit.
  • Gross Proceeds: Up to approximately $11 million.
  • Composition: One common share and one-half of one common share purchase warrant per unit.
  • Use of Proceeds: To incur eligible Canadian exploration expenses qualifying as flow-through mining expenditures, to be renounced to subscribers on or prior to Dec. 31, 2026.
• Hard-Dollar Units (HD):
  • Quantity: Up to 45 million units (plus over-allotment option).
  • Price: $0.20 per HD unit.
  • Gross Proceeds: Up to $9 million (base) + up to $5 million (over-allotment).
  • Composition: One common share and one-half of one common share purchase warrant per unit.
  • Use of Proceeds: Additional Canadian exploration expenses, general corporate and administrative expenses, and working capital.
• Over-Allotment Option:
  • Agents granted option to sell up to an additional 25 million HD units on the same terms.
  • Exercisable up to 48 hours prior to the closing date.
  • Additional gross proceeds: Up to $5 million.
• Warrant Terms:
  • Each warrant entitles holder to purchase one non-flow-through common share.
  • Exercise Price: $0.30 per warrant share.
  • Expiry: 12 months after the closing date.
  • Acceleration Clause: If the closing price of common shares exceeds $0.30 for 20 consecutive trading days commencing two months after closing, the company may accelerate warrant expiry to 30 days following notice.
• Closing Conditions:
  • Expected closing date: On or about March 18, 2026.
  • Subject to receipt of all necessary approvals, including exchange approval.
• Agents:
  • National Bank Capital Markets (Co-bookrunner and Co-lead agent).
  • MDCP Securities Ltd. (Co-lead agent).

Notable Quotes

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