Sierra Madre Developments Inc. (TSXV:SMG.H) announced a private placement of up tp 13,333,333 flow-through subscription receipts at an issue price of CAD 0.75 per share for gross proceeds of CAD 10,000,000 on February 22, 2021. Each flow-through subscription receipt will be automatically exercised, for no additional consideration, into one flow-through common share of the company. The flow-through shares will be subject to a four-month hold period from the date of issuance. Closing of the transaction is subject to the approval of the TSX Venture Exchange.