Sienna Resources Inc. Closes Oversubscribed Placement of $2,000,000
Sienna Resources Inc. Closes Oversubscribed
Placement of $2,000,000
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2020) -
Sienna Resources (TSXV: SIE)
(FSE: HRJ1) (OTC Pink: SNNAF) (the "Company")
has closed an oversubscribed non-brokered
private placement for gross proceeds of $2,000,000.
Jason Gigliotti, President of Sienna Resources stated, "We are very pleased regarding the
overwhelming response we received for this placement.
We are now fully funded to explore the main
projects within the company's asset base.
We plan to commence operations on multiple projects in the
coming weeks at a time when commodity prices have broken out and the junior market is as buoyant as
it has been in many years.
We are very optimistic about how the second half of 2020 will be for the
company and our shareholders."
Each unit consists of one common share of the Company and one transferable share purchase warrant,
exercisable at eight cents per share until August 14, 2025. An aggregate finders' fee of $76,600 and
1,532,000 Broker Warrants were paid in connection with the private placement. The Broker Warrants
are each exercisable at eight cents per share until August 14, 2025. All the securities issued in
connection with this private placement have a hold period that expires on December 15, 2020.
Proceeds will be used towards the Company's working capital, and the planned work programs. The
private placement is subject to final approval of the TSX Venture Exchange and was originally
announced on July 23, 2020. Please refer to that news release.
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/61958