Business
Sierra Madre Announces Upsize of Private Placement to $19.5 Million with Investment from Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - Sierra Madre Gold and Silver Ltd....
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre Announces Upsize of Private Placement to $19.5 Million with Investment from Eric SprottVancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (\"Sierra Madre\" or the \"Company\") is pleased to announce an upsize to its previously announced \"best efforts\" private placement. Under the amended terms, the Company will issue up to 27,858,000 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 $19,500,600 (the \"Offering\").Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, is expected to participate in the Offering.Beacon Securities Limited (\"Beacon\") is acting as lead agent and sole bookrunner, on behalf of a syndicate of agents including Canaccord Genuity Corp. (together with Beacon, the \"Agents\") in connection with the Offering.Each Unit will consist of one common share in the capital of the Company (a \"Unit Share\") 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\"), 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.Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units will be offered for sale to purchasers resident in Canada, other than Quebec, pursuant to the Listed Issuer Financing Exemption. The securities issued under the Listed Issuer Financing Exemption to Canadian subscribers will not be subject to a hold period in Canada.An amended and restated offering document dated July 18, 2025 related to the Offering will be filed under the Company's profile at www.sedarplus.ca and on the Company's website at www.sierramadregoldandsilver.com. Prospective investors should read this offering document before making an investment decision.The securities have not been and will not be registered under the United States Securit...