Sienna Closes Flow-Through Financing
Sienna Closes Flow-Through Financing
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2020) -
Sienna Resources Inc.
(TSXV:
SIE
) (FSE:
A1XCQ0
) (OTCBB:
SNNAF
)
(the "
Company
") Sienna has closed its financing
consisting of 2,222,222 flow-through shares for gross proceeds of $200,000. No warrants were issued
in the financing. An aggregate finders' fee of $12,000 was paid in connection with the private placement.
All the securities issued in connection with this private placement have a hold period that expires on
February 17, 2021. Proceeds will be used towards the Company's planned work programs. The private
placement is subject to final approval of the TSX Venture Exchange and was originally announced on
October 14, 2020. Please refer to that news release.
This flow through will be allocated primarily for Sienna's Marathon North Platinum-Palladium Property in
Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-
equivalent Marathon Deposit. Management cautions that past results or discoveries on properties in
proximity to Sienna may not necessarily be indicative to the presence of mineralization on the
Company's properties.
Jason Gigliotti states, "We are very pleased to have closed this placement, above the current market
price and with no warrants attached, which will enable immediate work to begin on our Marathon North
Platinum-Palladium Property in Ontario.
Not only do we plan to be active on this exciting project we are
also very active in Scandinavia on our platinum-palladium project in Finland and we expect to be drilling
on our Norway gold project making the remainder of 2020 a very active period for Sienna.
We are fully
financed for all of our planned work programs in 2020 and look forward to what we uncover from having
boots on the ground in at least 3 countries in the coming weeks."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as
defined by National Instrument 43-101.
About Sienna Resources
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically
stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE
listed mining company on three separate projects in Scandinavia including the past-producing Bleka &
Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems,
the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being
advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg
Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-
Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-
million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin
Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North
America, in the direct vicinity of Albemarle Corp's (NYSE: ALB) Silver Peak deposit and Tesla Motors
Inc.'s (Nasdaq: TSLA) Gigafactory. Management cautions that past results or discoveries on properties
in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the
Company's properties.
None of the securities sold in connection with the private placement will be registered under the United
States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements. This news
release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
If you would like to be added to Sienna's email list please email
for
information or join our twitter account at @SiennaResources.
Contact Information
Tel:
1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/66387