Sierra Grande Minerals Inc. Announces Share Consolidation
For Immediate Release
SIERRA GRANDE MINERALS INC. ANNOUNCES SHARE CONSOLIDATION
Surrey, British Columbia. February 24, 2022. Sierra Grande Minerals Inc. (the “Company” or “Sierra”) (CSE:
SGRO) (OTC: SIERF) (FF: F91Q) announces that it intends to proceed with a consolidation of its common shares
(each, a “Share”) on the basis of five (5) pre-consolidation Shares for one (1) post-consolidation Share
(the “Consolidation”). The Board of Directors approved the consolidation on February 17, 2022.
The Company currently has 53,626,095 Shares issued and outstanding. Accordingly, once the Consolidation is
effective, the Company will have 10,725,219 Shares issued and outstanding, assuming there are no other
changes in the issued capital of the Company. The record date for the consolidation will be March 3, 2022.
The Company intends to also proceed with consolidating its outstanding options and warrants on a ratio of five
(5) to one (1), with the result that each consolidated option and warrant will entitle the holder to acquire one
Share at an exercise price of five (5) times its original exercise price.
The Consolidation is being proposed in order to provide the Company with increased flexibility to seek additional
financing opportunities and is subject to the approval of the Canadian Securities Exchange. The Company will
not change its name as part of the Consolidation.
ON BEHALF OF THE BOARD
Sonny Janda, Director
For further information on the Company, please contact Sonny Janda, Director, Tel: (604) 357-3741 or at
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this release.
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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