St-Georges Announces A Private Placement Offering Of Up To $1 Million

Executive Summary

• St‑Georges Eco‑Mining Corp. announced a non‑brokered private placement of up to 20 million units at $0.05 per unit, targeting gross proceeds of up to $1 million.
• Each unit consists of one common share and half of a warrant; warrants allow purchase of additional shares at $0.075 for 24 months, with an acceleration clause tied to the CSE price.
• Proceeds will fund capital expenditures for battery‑processing upgrades, a NI 43‑101 technical report for the Thor Gold Project, preliminary work for Iceland Resources’ independent listing, and general working capital.

Key Details

• Offering Size: Up to 20,000,000 units (each $0.05) → maximum gross proceeds of $1,000,000.
• Unit Composition: 1 common share + ½ warrant per unit.
• Warrant Terms:
• Exercise price: $0.075 per share.
• Term: 24 months from issuance.
• Acceleration provision: If CSE VWAP ≥ $0.16 for five consecutive trading days, the company may accelerate expiry to no later than 30 days after notice.
• Use of Proceeds:
• Capital expenditures for operational upgrades in EVSX Corp.’s battery processing operations.
• Completion of a NI 43‑101 technical report for the Thor Gold Project.
• Preliminary work required for the independent listing of Iceland Resources.
• General working capital purposes.
• Finders’ Fees: May be paid to qualified intermediaries as part of the financing.

Notable Quotes

(No direct quotes were provided in the release.)