Flow-Through Shares Offering Financing & Extension of Warrants

2022-09-02 / @thenewswire

(TheNewswire)

Montréal – TheNewswire - September 2, 2022 – St-Georges Eco-Mining Corp. (CSE:SX) (OTC:SXOOF) (FSE:85G1) is pleased to announce a non-brokered private placement offering of “flow-through” units at a price of $0.325 for total gross proceeds of up to $4,500,000.

Each FT Unit is comprised of one (1) common share in the capital of the Company on a “flow-through” basis (each, a “FT Share”) and one FT Share purchase warrant (each, a “FT Warrant”).

Each FT Warrant entitles the holder thereof to purchase a Share at an exercise price of $0.36 per Share. The warrants will expire 36 months after their issuance or 30 days after the issuance of a press release accelerating the expiration of the warrants.

In the event that the trading price of the Shares on the Canadian Securities Exchange (the “CSE”) reaches $0.75 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 flow-through proceeds of the Offering to further advance the exploration effort on the Manicouagan Project in Québec.

A finder's fee might be paid on the Offering, subject to the policies of the CSE. The securities issued in connection with the Offering are subject to the applicable statutory four months and one day hold period.

Management has received interest from institutional investors for the majority of the Offering and thus expects to be able to close the Offering before the end of the month of September following the publishing of its audited financial statements on SEDAR. The closing of the Offering is subject to receipt of applicable regulatory approvals, including the approval of the CSE.

Other financing efforts related to the EVSX recycling plants and operations are being reviewed. The Company is not expecting to issue equity but, instead, is in talks with institutions to issue debt and bonds and potentially conduct a green bond offering with certain institutions following the reception of the feasibility study.

Extension of Warrants Validity

The Company also announces that, following multiple requests from past subscribers, it is extending the validity of warrants currently active:

Warrants issued on February 5, 2021 (1,428,571):

Original Terms: Exercise Price $0.21 for a period of 24 months following the Closing Date.

New Terms: Exercise Price $0.21 for a period of 36 months following the Closing Date.

Warrants issued on March 3, 2021, & part of a Non-Flow-Through Unit (10,000,000):

Original Terms: Exercise Price $0.65 for a period of 18 months following the Closing Date, and CDN$1.05 for the 18 months thereafter.

New Terms: Exercise Price $0.65 for a period of 30 months following the Closing Date, and CDN$1.05 for the 6 months thereafter.

Warrants issued on March 3, 2021, & part of a Flow-Through Unit (7,831,632):

Original Terms: Exercise Price $0.75 for a period of 18 months following the Closing Date, and CDN$1.25 for the 18 months thereafter.

New Terms: Exercise Price $0.75 for a period of 30 months following the Closing Date, and CDN$1.55 for the 6 months thereafter.

Warrants issued on March 12, 2021, & part of a Flow-Through Unit (1,083,333):

Original Terms: Exercise Price $0.75 for a period of 18 months following the Closing Date, and CDN$1.25 for the 18 months thereafter.

New Terms: Exercise Price $0.75 for a period of 30 months following the Closing Date, and CDN$1.25 for the 6 months thereafter.

Warrants issued on November 30, 2021, & part of a Flow-Through Unit (5,063,636):

Original Terms: Exercise Price $0.65 for a period of 24 months following the Closing Date.

New Terms: Exercise Price $0.65 for a period of 36 months following the Closing Date.

Warrants issued on December 21, 2021, & part of a Non-Flow-Through Unit (4,185,714):

Original Terms: Exercise Price $0.40 for a period of 18 months following the Closing Date.

New Terms: Exercise Price $0.40 for a period of 30 months following the Closing Date.

________________________________________________________________________________

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS

Chief Operating Officer & Director

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 Nickel Project and the Manicouagan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. 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.