Business
Sierra Madre Announces $10 Million Best Efforts Private Placement of Units
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - Sierra Madre Gold and Silver Ltd....
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre Announces $10 Million Best Efforts Private Placement of UnitsVancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (\"Sierra Madre\" or the \"Company\") is pleased to announce that it has entered into an agreement with Beacon Securities Limited (\"Beacon\") to act as lead agent and sole bookrunner, on behalf of a syndicate of agents to be formed (together with Beacon, the \"Agents\") in connection with a \"best efforts\" private placement of up to 14,290,000 units of the Company (each a \"Unit\") at a price of $0.70 per Unit (the \"Issue Price\") for aggregate gross proceeds to the Company of up to $10,003,000 (the \"Offering\"). Each Unit to be issued pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\") will consist of one common share in the capital of the Company (a \"Unit Share\"), and one half of one common share purchase warrant (each whole warrant a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to acquire one common share (a \"Warrant Share\") at a price per Warrant Share of $0.85 for a period of 12 months from the date of issuance.The Company intends to use the net proceeds of the Offering to expand the capacity of the Guitarra mine, and for working capital and general corporate purposes.Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units will be offered for sale (i) to purchasers resident in Canada, other than Quebec, pursuant to the Listed Issuer Financing Exemption, and (ii) in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and applicable U.S. state securities laws. The securities issued under the Listed Issuer Financing Exemption to Canadian subscribers will not be subject to a hold period in Canada.There is an offering document dated July 15, 2025 related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's...