SOI-v...in the news:
Sirios, Dios complete $1,134,000 financing
Thu 10 Jan 2002
Mr. Dominique Doucet reports
CLOSING OF $1,249,000 FINANCING BY SIRIOS AND DIOS
Sirios Resources and Dios Exploration have completed a $1,134,000 financing
by prospectus. Dios raised $690,500 and Sirios $443,500. Dios will issue
2,129,380 new common shares and Sirios 2,861,100, resulting in 5,394,191
common shares issued and outstanding for Dios and 24,220,241 for Sirios.
Dios will issue 576,920 warrants entitling their holder thereof to
subscribe one common share at 39 cents per share on or before May 23, 2003,
and Sirios will issue 1,095,758 common share warrants at 20 cents.
Different limited partnerships did subscribe an amount of $485,000 in this
financing as well as a $115,000 private placement recently completed
outside Quebec by Sirios. Closing by Dios of this initial public offering
was the last step before listing Dios's common shares on the Canadian
Venture Exchange, which should take place around the end of January, 2002.
The proceeds shall be used by Sirios to incur exploration expenditures
mainly on the Matagami area Samson project and on Tilly, James Bay, whereas
Dios will focus on the 33-carat diamond project (510 square kilometres
directly adjacent to the Ashton-Soquem property hosting the recent
discovery of two diamond-bearing kimberlitic pipes). Almost 200 glacial
till samples from this project are actually being processed for indicator
minerals. M.J. Girard, president of Dios, says that a good understanding of
the quaternary geology is a key element for diamond exploration in glacial
terrain. The larger Otish Mountains area offers a clear advantage due to
its rather simple glacial geology, which is also well known following the
uranium exploration history of the area. Ms. Girard has 25 years of
experience in mineral exploration and securities business. She worked for
several years in the Otish Mountains in the 1970s. D. Doucet, PEng
(geology), vice-president, and H. Desbiens, geologist, bringing a total of
40 years of exploration experience to the company, have in the past
discovered a diamond-bearing kimberlite (although subeconomic) in Ailly
township, Quebec, in 1993.
Dios has 3,264,811 shares outstanding held by Sirios, 1,972,220 of these
shares to be distributed to its shareholders before listing Dios's shares
on CDNX. Sirios will keep 1,292,591 shares, nearly 25 per cent of the 5.4
million shares issued by Dios. Sirios, one of the most dynamic mining
exploration companies in Quebec, was granted Prospector of the Year by the
QPA, for its gold and base metals discoveries in the James Bay area.
Dios, a very active player in Eastern Canada diamond play, holds
100-per-cent interest in more than 1,450 square kilometres of
high-potential properties for diamond discovery within the Superior Craton:
Scholfield, Ont., and 33 carats, Wemindji, Hotish (531 square kilometres,
100 kilometres south of the Ashton-Soquem discovery), Que. |
