St-Georges Eco-Mining Announces Flow-Through Unit Offering

2018-12-21 / @thenewswire

(TheNewswire)

Montreal / TheNewswire / December 21, 2018 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that it has arranged a non-brokered private placement offering (the "Offering") of up to 2,500,000 units of the corporation (each a "Unit") at a price of $0.10 per Unit for aggregate maximum gross proceeds of $250,000. Each Unit will be comprised of one (1) common share in the capital of the company (a "Share") issued on a flow-through basis and one half of one (1/2) Share purchase warrant (each whole, a "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) Share at an exercise price of: (i) $0.20 per share for a period of nine (9) months from the closing date (the “Early Exercise Period”), and (ii), thereafter, at a $0.50 per share for the period ending (18) months from the closing date (together with the Early Exercise Period, the "Warrant Expiry Date").

In the event that, during the period following 4 months from the Closing Date, the volume-weighted average trading price of the Shares on the Canadian Securities Exchange (“CSE”) exceeds $0.25 per Share for any period of 10 consecutive trading days, the company may, at its option, following such 10-day period, 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 date of issuance of the Warrant Acceleration Press Release.

The securities issuable in connection with the Offering are subject to a statutory four month and one day hold period. Closing of the Offering is anticipated to be on or about December 31, 2018, and is subject to receipt of applicable regulatory approvals, including the approval of the CSE.

ON BEHALF OF THE BOARD OF DIRECTORS

"Vilhjalmur T. Vilhjalmsson"

VILHJALMUR THOR VILHJALMSSON, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

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.