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Sienna Resources Closes Oversubscribed Private Placement Raising $2.5 Million- Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - Sienna Resources (TSXV: SIE...
About this update from Sienna Resources Inc
[{"type":"text","content":"Sienna Resources Closes Oversubscribed Private Placement Raising $2.5 Million- Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - Sienna Resources (TSXV: SIE) (FSE: HRJ1) (OTC Pink: SNNAF) has closed an oversubscribed private placement. The non-brokered private placement raised gross proceeds of $2.5 million from the placement of 12.5 million units priced at $0.20 per unit, with each consisting of 1 share and 1 transferable warrant, with the warrant exercisable at $0.30 for 60 months.InvestmentPitch Media has produced a \"video\" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Sienna\" in the search box.Cannot view this video? Visit:http://www.investmentpitch.com/video/0_3r6o1k7l/Sienna-Resources-TSXVSIE-has-closed-an-oversubscribed-private-placementProceeds will be used for working capital, loans payable, and planned work programs, including drilling in Sweden.Jason Gigliotti, President, stated: \"We are very pleased to have such a strong interest in the placement as we had orders for significantly more than we closed. We thought it was prudent to only take $2.5 million to keep the share structure intact. We expect to be on the ground in Sweden this month with a full scale drill program planned for the first quarter. We are very optimistic about the prospects in Sweden and look forward to getting boots on the ground immediately. Cobalt prices are at 10 year highs and demand for ethically sourced cobalt has never been higher. We want to thank our placement subscribers for their continued strong support of Sienna.\"The company recently received TSX Venture Exchange approval for the exploration and option agreement to acquire the Slättberg Cobalt-Nickel-Copper Project in Sweden. The project, consisting of two adjacent exploration permits comprising approximately 9,513 contiguous acres, is located 25 kilometres northwest of Falun, Sweden. Slättberg is a historic mining camp hosting cobalt-nickel-copper rich massive sulphide mineralization that occurs within a two kilometre belt of historic nickel-copper mines. The project contains drill defined massive sulphide mineralization extending to approximately 100 metres in depth, remaining open for expansion at depth and along strike. The project is accessible year roun...