Business
Sienna Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2023) - Sienna Resources Inc. (TSXV: ...
About this update from Sienna Resources Inc
[{"type":"text","content":"Sienna Closes First Tranche of Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 27, 2023) - Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) (\"Sienna\" or the \"Company\") is pleased to announce that, further to its News Release dated February 21, 2023, it has completed the first tranche of its private placement (the \"Offering\"), pursuant to which it issued an aggregate of 47,870,000 units (each, a \"Unit\") at a price of $0.05 per Unit for aggregate gross proceeds of $2,393,500. Each Unit is comprised of one common share (each, a \"Share\") and one transferrable share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Share (each, a \"Warrant Share\") at a price of $0.08 per Warrant Share until February 27, 2028.The Company paid cash finder's fees of $134,000 and issued 2,646,000 non transferrable share purchase warrants (the \"Finder's Warrants\") to certain finders as a finder's fee in connection with the Offering. Each Finder's Warrant entitles the holder thereof to acquire one Share (each, a \"Finder's Warrant Share\") at a price of $0.08 per Finder's Warrant Share until February 27, 2025.All securities issued in connection with the Offering are subject to a statutory hold period that expires on June 28, 2023. The aggregate gross proceeds from the sale of the Offering are expected to be used towards drilling on current projects and general working capital. The Offering is subject to final approval of TSX Venture Exchange.None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the \"1933 Act\"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. Any questions regarding this placement or any eligible person interested in more information, please contact President Jason Gigliotti directly at 604 646 6900 or [email protected] Gigliotti, President of Sienna Resources Inc, states, \"We are very pleased regarding the interest we are receiving regarding this place...