Sego Closes $1,060,000 Non-Brokered Flow Through Financing
Rhea-AI Summary
Sego (OTCQB: SGOZF) closed a non-brokered critical minerals flow through financing, issuing 21,200,000 shares at $0.05 for gross proceeds of $1,060,000. The financing was oversubscribed and remains subject to TSX-V approval.
Proceeds will fund exploration at the Miner Mountain project and eligible Canadian flow-through critical mineral expenditures in British Columbia. All securities carry a hold period until October 6, 2026.
AI-generated analysis. Not financial advice.
Positive
- Raised $1,060,000 through non-brokered flow through financing
- Oversubscribed placement indicates strong investor demand
- 21,200,000 shares issued at a fixed $0.05 price
- Proceeds allocated to exploration at Miner Mountain project
- Insiders subscribed for 3,000,000 shares under MI 61-101 exemptions
Negative
- Issuance of 21,200,000 new shares increases share count and dilution
- Finder's fees of $52,500 plus 1,050,000 warrants at $0.05
- Financing closing remains subject to TSX-V approval
- All securities restricted by four-month-and-one-day hold period
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2026) - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company"), has closed its non-brokered critical minerals flow through financing announced May 29, 2026, by issuing 21,200,000 common shares at
Private Placement
The offering consisted of 21,200,000 shares at
Finder's fees paid on the placement consisted of
MI 61-101 Disclosure
MI 61-101 Disclosure
Elliot Strashin, an insider of the Company by right of holding >
All of the securities sold pursuant to the offering will be subject to a four-month-and-one-day hold period from the date of closing. The hold period will expire on October 6, 2026.
Proceeds of the private placement will be spent on exploration of the Company's Miner Mountain project. The gross proceeds received by the Company from the sale of the FT Units will be used to incur "Canadian exploration expenses" that are "flow-through critical mineral mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's properties located in British Columbia.
None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act").
There is no material change about the issuer that has not been generally disclosed.
For further information please contact:
J. Paul Stevenson, CEO, and Director
(604) 682-2933 email: ceo@segoresources.com
About the Project
Sego is
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300356