Goldcorp to Gain 9.9-percent Stake in Sirios Resources

Sirios Resources Inc. (TSXV:SOI) announced that Goldcorp Inc. (TSX:G,NYSE:GG) will purchase 7,400,000 units of Sirios via a private placement. Gross proceeds will come to C$962,000.
As quoted in the press release:

Each Unit, offered at C$0.13, consists of one common share of Sirios and a half warrant. Each full warrant gives the holder the right to purchase one common share at C$ 0.20 during the eighteen months following the closing date.
The financing is expected to close on March 2nd, 2016, following which Goldcorp will own approximately 9.9 per cent of the company’s issued and outstanding shares on an undiluted basis. The net proceeds of the placement will be used to further advance the company’s Cheechoo project, as well as for general corporate and working capital purposes.

Dominique Doucet, president of Sirios, commented:

We are very pleased to welcome Goldcorp as a shareholder of Sirios. We also view this investment as a validation of the exploration success we have had at Cheechoo. With the proceeds from this placement, we are on our way to complete our exploration commitments in securing the full ownership of Cheechoo.

Click here to read the full Sirios Resources Inc. (TSXV:SOI) press release.