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Sierra Madre Announces Update to $10 Million Best Efforts Private Placement
Sierra Madre Announces Update to $10 Million Best Efforts Private Placement Can...
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"\n \n \n \n Sierra Madre Announces Update to $10 Million Best Efforts Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR\n \n \n \n \n FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 16, 2022\n \n \n /CNW/ -\n \n Sierra Madre Gold\n \n and Silver Ltd. (TSXV: SM) (OTCQB: SMDRF) (\"\n \n \n Sierra Madre\n \n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has amended the terms of its previously disclosed \"best efforts\" brokered private placement (the \"\n \n Offering\n \n \") (see press release dated\n \n June 27, 2022\n \n ).\n \n \n \n \n \n \n \n \n \n The Company now anticipates that the Offering shall be comprised of up to (i) 9,385,000 subscription receipts of the Company (the \"\n \n Subscription Receipts\n \n \") at a price of\n \n $0.65\n \n per Subscription Receipt and (ii) 6,000,000 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price per\n \n $0.65\n \n per Common Share, for aggregate gross proceeds of up to approximately\n \n $10,000,500\n \n . The Offering is being conducted in conjunction with the Company's proposed acquisition (the \"\n \n Proposed Acquisition\n \n \") of all of the issued and outstanding shares of La Guitarra Compania Minera S.A. de C.V. (\"\n \n SubCo\n \n \"), an indirect wholly-owned subsidiary of First Majestic Silver Corp. (\"\n \n First Majestic\n \n \") incorporated under the laws of\n \n Mexico\n \n that holds a 100% interest in the\n \n La Guitarra\n \n silver-gold property (the \"\n \n La Guitarra Property\n \n \"), as previously announced on\n \n May 25, 2022\n \n .\n \n \n Beacon Securities Limited and Canaccord Genuity Corp. (together, the \"\n \n Co-Lead Agents\n \n \") on behalf of a syndicate of agents including Haywood Securities Inc. (together with the Co-Lead Agents, the \"\n \n Agents\n \n \") shall act as agents under the Offering. It is anticipat...