St-Georges Eco-Mining Corp. announced a private placement to issue 14,259,260 flow-through units at an issue price of CAD 0.135 per unit for the gross proceeds of CAD 1,925,000 on November 23, 2023 in the first tranche. The transaction included participation from two institutional investors.

Each Flow-Through unit is composed of one common share and one Flow-Through common share purchase warrant. Each flow-through warrant entitles the holder thereof to purchase one share at an exercise price of of CAD 0.175 per share until November 23, 2025. In connection with the offering, the corporation paid a cash finder's fee of CAD 115,500 and issued an aggregate of 855,556 compensation warrants to an arm's-length finder.

Each compensation warrant entitles the holder thereof to acquire one common share in the capital of the corporation at a price of CAD 0.175 for a two-year period from the closing date. All securities issued pursuant to the offering are subject to the applicable statutory hold period ending March 24, 2024. The offering is subject to the approval of the CSE.