St-Georges arranges $1-million private placement

Executive Summary

• St-Georges Eco-Mining Corp. announced a non-brokered private placement offering of up to 20 million units at $0.05 per unit, raising up to $1 million in gross proceeds.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.075 per share for 24 months.
• Proceeds are designated for operational upgrades at EVSX Corp., NI 43-101 technical report completion for the Thor gold project, preliminary work for the independent listing of Iceland Resources, and general working capital.

Key Details

• Offering Size: Up to 20 million units.
• Price: $0.05 per unit.
• Gross Proceeds: Up to $1,000,000.
• Structure: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.075 per share.
  • Duration: 24 months from issuance.
  • Acceleration Provision: If the volume-weighted average trading price on the Canadian Securities Exchange is $\ge$ $0.16 for five consecutive trading days, the company may accelerate warrant expiry, requiring warrants to expire no later than 30 days from notice.
• Use of Proceeds:
  • Capital expenditures for operational upgrades and general working capital for EVSX Corp. (battery processing operations).
  • Completion of a National Instrument 43-101 technical report for the Thor gold project.
  • Preliminary work required for the independent listing of Iceland Resources.
  • General working capital.
• Intermediaries: Finders' fees may be paid to qualified intermediaries.

Notable Quotes

• None provided in the text.