News Leader News for May 05, 2009
SEGO RESOURCES ISSUES UNITS
Sego Resources Inc. ('Sego' or the 'Company') announced April 27th that it has closed the first tranche of the Offering described in the news release dated April 3, 2009. The Company has issued 2,000,000 Units at a price of $0.07 per Unit for gross proceeds of $140,000. Each unit (a
'Unit') consists of one common share and one share transferable purchase warrant (a
'Warrant') which will entitle the holder to purchase on additional common share at a price of $0.10 per share for a period of five years.
Northern Securities Inc. ('Northern') acted as agent and received a 12% commission, a 5% work fee and non-transferable options equal to 25% of the number of Units sold pursuant to this closing.
The Units were sold pursuant to a Short Form Offering Document dated April 2, 2009, a copy of which is available on SEDAR at
www.sedar.com. The Company will continue to offer the remaining 11,000,000 units at a price of $0.07 per unit for gross proceeds of up to $770,000.
The net proceeds of the Offering will be used for working capital and further exploration of the Company's Miner Mountain Project. The Miner Mountain Project is a copper gold porphyry property located near Princeton, and is 15 kilometres north of Copper Mountain Mining Corporation's former copper producer (closed 1996) that is scheduled to resume production in 2010, following a recent favourable feasibility study.
The Miner Mountain Project is situated within the traditional territory of the Upper Similkameen Indian Band with whom Sego has a memorandum of understanding. The Miner Mountain property is 2,400 hectares in size.
Sego Resources Inc. is a mineral exploration company, exploring a large scale porphyry copper-gold target northeast of Princeton.
Exploration to date, has located zones of high grade surface copper-gold mineralization and drilling has confirmed the presence of significant copper-gold grades at depth. Sego has signed an MOU with the Upper Similkameen Indian Band which provides a constructive framework for future development and exploration.
Management - Experienced in Wealth Building CEO, J. Paul Stevenson has many years of experience in the mining industry and is a leader in aboriginal engagement in the resources sector. President, Chris Sampson, P.Eng., has extensive experience in porphry copper exploration and J. Allan Hilton is a well known mine finder and prospector. Shelley Hallock has extensive experience in corporate governance and a background in media.
This team has worked together for 20 years. Qualified Person, Vic Preto Ph.D., P.Eng., is a recognized authority on the geology of the Nicola Belt and associated mineral deposits.
Sego Resources Inc. announced April 30th that a Titan 24 Induced Polarization (IP) Survey is now underway at its Miner Mountain Project.
The Titan 24 IP system is noted for its ability to offer 3-D imagery and to reach depths of 750 metres to over 1,500 metres.
The Miner Mountain Project is a copper gold porphyry property located near Princeton, and is 15 kilometres north of Copper Mountain Mining Corporation's former copper producer (closed 1996) that is scheduled to resume production in 2010, following a recent favourable feasibility study.
LIBERALS ROAST RICK THORPE
The event was identified as a 'Rick Thorpe Roast and Appreciation Dinner' and for the almost 100 local Liberal supporters who paid $50 each to get into Riverside Theatre May 2nd, they were well fed and thoroughly entertained.
The 'target' of the fundraising event in support of Fraser-Nicola Liberal Candidate Ella Brown's election campaign was Okanagan-Westside MLA Rick Thorpe. And although there was no shortage of jabs, wisecracks and zingers, the flavour of the evening often bounced between a roasting and a tribute to the retiring former Minister of Small Business & Revenue.
RDOS Area Director Brad Hope was first at bat and presented a factual and often hilarious slide show highlighting many of Thorpe's contributions to the Princeton area. Master of Ceremonies Princeton Mayor Randy McLean was also properly skewered in Hope's presentation. In fact, for someone who may have arrived late it would have looked as if Hope was presenting a tongue-in-cheek tribute to McLean.
Kamloops MLA Claude Richmond keep the room filled with laughter with his funny stories involving Thorpe and the former Speaker of the Legislative Assembly. At one point Richmond quipped, "Rick is a hard worker. Not very effective, but a very hard worker," which kept the crowd entertained.
Richmond did take the opportunity to take a shot at the Referendum on Electoral Reform (the STV vote) and had probably the funniest line during the evening when he stated; "The STV is like a STD, very nasty and difficult to get rid of."
Penticton Mayor and RDOS Chair Dan Ashton and Keremeos Mayor Walter Despot also took their turns with the most entertaining of the speakers being Thorpe's Administrative Assistant Mike Reid. Reid, who has held that position for the past 13 years, described in great detail his joining OTA' a support group for former staff and employees who have survived working with Thorpe.
Reid himself admitted the key to his longevity was linked to his answering "Yes, Minister" to everything Thorpe has asked of him over the years and the ability to cover any follow-up questions with reasonably plausible answers.
Then it was Thorpe's turn.
First on his list was a complete roasting of RDOS Area H Director Brad Hope for choosing Australian wines over Similkameen Valley wines to be served during the evening. He also roasted Princeton Mayor Randy McLean for being the biggest whiner of the three Similkameen Valley political heads at the function. Then he roasted Keremeos Mayor Walter Despot for his fears related to the Mobile Business License Program.
In all, it was a fun evening full of good-natured barbs and pokes where everyone, including the designated targets, had an opportunity to laugh at themselves and the sometimes silly things that happen while participating in the complex game of politics.
Thorpe did state he appreciated the working relationships he had developed with local politicians and enjoyed working with them.
"It's been a pleasure to help your community get the things that really matter to you."
