Closing of $1.46m Share Offering

2021-12-21 / @thenewswire

(TheNewswire)

Montréal – TheNewswire - December 21, 2021 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that it has closed a non-brokered private placement of 4,185,715 units at a price of $0.35 per Unit, for aggregate gross proceeds of $1,465,000.10.

Each Unit is comprised of one (1) common share (a “Share”) in the capital of the Corporation and one (1) Share purchase warrant (a “Warrant”) of the Corporation. Each Warrant entitles the holder thereof to purchase a Share at an exercise price of $0.40 per share until June 21, 2023 (the “Warrant Expiry Date”).

In the event that the trading price of the Shares on the Canadian Securities Exchange (the “CSE”) reaches $1.25 per Share on any single day, the Corporation may, at its option, accelerate the Warrant Expiry Date by delivery of notice to the registered holders (an “Acceleration Notice”) thereof and issuing a press release (a “Warrant Acceleration Press Release”, and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. (Montreal time) on the 30th day following the later of (i) the date on which the Acceleration Notice is sent to warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.

The Corporation will use the proceeds of the Offering to advance its green hydrogen initiative.

Four different subscribers are the participants. The Corporation paid finder fee of $98,000 in cash and issued 351,429 non-transferable Finder’s warrants entitling the holder thereof to purchase one (1) Share at an exercise price of $0.40 per Share until the Warrant Expiry Date.

All securities issued pursuant to this tranche of the Offering are subject to the applicable statutory hold period ending April 22, 2022. The Offering is subject to the approval of the CSE.

ON BEHALF OF THE BOARD OF DIRECTORS

“Neha E. Tally”

NEHA EDAH TALLY
Corporate Secretary

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Project and the Manicouagan Project on Quebec’s North Shore and has exploration projects in Iceland. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX , trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for international companies. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.