Sego Resources Announces Increase in Flow-Through Financing for $465,080

Sego Resources Inc. – Ticker Symbol – TSXV-SGZ (“Sego” or “the Company”) has increased the proposed flow-through financing for proceeds from $405,000 by way of a non-brokered private placement of up to 4,500,000 flow-through shares at $0.09 per share (See News Release October 26, 2021) to $465,080 by way of a non-brokered private placement of up to 5,167,555 flow-through shares at $0.09 per share. Subject to regulatory approval.

The proceeds will be expended on diamond drilling of the Company’s Southern Gold Zone at the Miner Mountain Copper-Gold Alkalic Porphyry project, near Princeton, BC, subject to regulatory approval.

Finder’s fees may be payable on all or a portion of the offering, and will consist of a cash fee of 7% and a 7% Broker’s Warrant where applicable, entitling the broker to purchase for one common share for each warrant held for two years from the closing date of the offering at $0.09 per share.

This offering will be subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the TSX Venture Exchange and other customary conditions. All of the shares sold pursuant to the offering will be subject to a four-month plus one day hold period from the date of closing.

Insiders are participating in the offering, as a result, the private placement is a related-party transaction (as defined under Multilateral Instrument 61-101 [Protection of Minority Security Holders in Special Transactions]). The company relied upon Section 5.5(a) (Fair Market Value Not More Than $2.5 million), Section 5.5(c) (Distribution of Securities for Cash), and exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

There is no material change about the issuer that has not been generally disclosed.

For further information please contact:
J. Paul Stevenson, CEO
Sego Resources Inc.

For investor & shareholder information, please contact:
MarketSmart Communications Inc.
Ph: +1 +1 877 261-4466

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.