Business
Sierra Madre to Resume Trading on TSX Venture Exchange on Monday June 5, 2023
VANCOUVER, BC / ACCESSWIRE / June 2, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM) (" Sierr...
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre to Resume Trading on TSX Venture Exchange on Monday June 5, 2023VANCOUVER, BC / ACCESSWIRE / June 2, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM) (\"Sierra Madre\" or the \"Company\") is pleased to announce that the Company's common shares will resume trading at the market open on Monday, June 5, 2023. Shares were halted from trading following the announcement of the definitive acquisition of La Guitarra Project (\"La Guitarra\" or the \"Project\") from First Majestic on May 25, 2022. In addition to re-listing on the TSX Venture, the Company intends to quickly take the necessary steps to requalify for OTCQX, in order to provide increased liquidity to our US shareholders. Recent Highlights:Closing of the acquisition of La Guitarra from First Majestic gives the Company a 100% interest in a fully permitted, past-producing silver-gold mine in MexicoFirst Majestic is now the largest shareholder of Sierra MadreClosed $10.3 million financing\"We are excited to be publicly traded once again and would like to thank existing shareholders, new shareholders and First Majestic for their patience during the lengthy process to re-list Sierra Madre on the TSX Venture,\" stated Alex Langer, CEO of Sierra Madre. \"We have a lot of news to share over the coming months, including drill results from both the Tepic and La Tigra Projects in Nayarit, Mexico and numerous updates from La Guitarra. We have been very active at site since January at La Guitarra, as we continue to fast-track components of the Project vital for recommencing production. We have begun sourcing and rebuilding underground mining equipment, refurbishing the mill, and commissioned a study to improve the efficiency of the flotation circuit. In the eastern portion of the Temascaltepec mining district, we have initiated a district scale mapping program. We intend to ramp up our marketing efforts to ensure existing shareholders and potential shareholders are kept informed of the exciting developments underway at Sierra Madre.\"La Guitarra Highlights:La Guitarra is a high-grade, past-producing underground mine with an on-site process facility that operated up to August, 2018Historical Measured and Indicated Mineral Resources of approximately 7.45 million ounces (\"oz\") of silver-equivalent (\"AgEq\") and Historical Inferred Mineral Resources of approximately 10.03 mi...