Vancouver, British Columbia--(Newsfile Corp. - August 7, 2025) - Sego Resources Inc., (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that it has received conditional approval from the TSX Venture Exchange for closing of the first tranche of the financing announced on July 8, 2025. On closing, Sego will issue 10,300,000 units at $0.02 per unit for gross proceeds of $206,000.
Each unit of the financing will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional common share at $0.05 for three years from the closing date. The securities issued on closing are subject to the applicable statutory four-month and one-day hold period ending December 08, 2025.
The proceeds will be used for general working capital. The Company fully expects to spend the funds as stated, however, there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary.
Finder's fees will be payable on a portion of the private placement and will consist of 7% cash.
An individual, Barry Mensing will receive a $7,000.00 Finder's Fee.
The total offering will continue with up to 20,000,000 flow-through units ("FTU") at $0.025 per unit for gross proceeds of up to $500,000 and up to 10,000,000 non-flow-through units ("NFTU") at $0.02 per unit. The flow-through units and non-flow-through units may vary in totals depending on demand. The total of the financing is expected to be $700,000.
Each FTU will consist of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at $0.05 for two years from closing of the private placement. Each NFTU will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at $0.05 for three years from the closing of the private placement.
The placement may close in several tranches and insiders may participate in the private placement. The flow-through proceeds will be expended on continued exploration on the Company's Miner Mountain Copper-Gold Alkalic Porphyry project and South Gold Zone, near Princeton, BC. The non-flow-through proceeds will be used for working capital and general corporate purposes.
There is no material change about the Company that has not been generally disclosed.
For further information please contact:
J. Paul Stevenson, CEO (604) 682-2933
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.
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SOURCE: Sego Resources Inc.
