The Company issued 3,571,500 shares (the 'Shares') at a price of
The Offering has been structured to take advantage of the listed issuer financing exemption from prospectus requirements (the 'Exemption') in Part 5A of National Instrument 45-106 - Prospectus Exemptions ('NI 45-106'), whereby shares issued pursuant to the Exemption are freely tradeable listed equity securities not subject to any hold period. The Shares are not subject to resale restrictions pursuant to applicable Canadian securities laws.
In connection with the Offering, the Company paid to an arm's length finder a cash commission totaling
An amended and restated offering document related to this Offering (the 'Offering Document') has been filed under the Company's profile at www.sedarplus.com and at https://sierramadregoldandsilver.com.
The securities offered have not been registered under the
About Sierra Madre
The +2,600 ha
Sierra Madre's management has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre's team of professionals has collectively raised over
Contact:
President, Chief Executive Officer and Director
Tel: 1-604-765-1604
Email: investor@sierramadregoldandsilver.com
Cautionary Note
This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to the use of proceeds.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company will use the proceeds of the Offering as announced or at all. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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