Sidon to issue C$1 million stock to Abi-Farrage in bimonthly tranches

Company director to provide financing for gold exploration in Tanzania

By Susanna Moon

Chicago, Jan. 10 - Sidon International Resources Corp. said Souhail "Abby" Abi-Farrage, director of the company, plans to enter into a private placement subscription agreement for C$1 million of common shares.

Abi-Farrage will use commercially reasonable efforts to subscribe for a placement of shares and has agreed to subscribe to eight bimonthly tranches of C$125,000 each.

Pricing will be based on the higher of the discounted weighted average trading price of the company's common shares for the last five consecutive trading days before the 15th day of the month of that period and the discounted closing market price as of the announcement date.

An equivalent number of warrants priced at a 10% premium to the market will be issued at the same time.

Each of these quarterly tranches will be subject to regulatory approval.

"I plan this ongoing market-priced investment in Sidon International Resources Corp. to ensure the company remains adequately financed while pursuing its exploration program on its gold properties in Tanzania," Abi-Farrage said in a press release.

Sidon is a resource exploration company based in Vancouver, B.C.

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