Surrey - Sierra Grande Minerals Inc. (the 'Company' or 'Sierra') (CSE: SGRO) (OTCQB: SIERF) (FSE: SRR) is pleased to announce that it has successfully closed its previously announced non-brokered private placement financing (the 'Offering').
The Company has raised aggregate gross proceeds of $995,000 through the issuance of 19,900,000 units (the 'Units') at a price of $0.05 per Unit. The net proceeds received from the Offering will be used by the Company for general working capital. The shares issued will have a four-month hold. Officers of the company also participated in the financing.
Each Unit consists of one common share of the Company and one common share purchase warrant (a 'Warrant'). Each whole Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.065 for a period of 24 months closing date, expiring on May 14, 2028.
Contact:
Sonny Janda
Director
Email: sonny.janda@sierragrowth.com
This news release includes certain statements that constitute 'forward-looking information' within the meaning of applicable securities law, including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.'
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