Sienna Resources to Raise $2,000,000 for General Working Capital
Sienna Resources to Raise $2,000,000 for
General Working Capital
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2020) -
Sienna Resources (TSXV: SIE) (FSE:
HRJ1) (OTC Pink: SNNAF) (the "Company")
is proposing a non-brokered private placement to
consist of up to forty million units at 5 cents per unit for gross proceeds of up to $2,000,000. Each unit
will consist of one common share in the capital of the Company and one transferable share purchase
warrant, exercisable at 8 cents for a period of five years. The private placement is subject to approval of
the TSX Venture Exchange.
Any questions or inquiries about this placement please call President Jason Gigliotti directly at 604 646
6900 or toll free 1 855 646 6901 or email
Sienna Resources Inc. plans to rely upon the existing security holder exemption (the "
Existing Security
Holder Exemption
") found in B.C. Instrument 45-534
Exemption from Prospectus Requirement for
Certain Trades to Existing Security Holders
("
BC Instrument 45-534
") and as further described in
Multilateral CSA Notice 45-313
Prospectus Exemption for Distributions to Existing Security Holders
(published March 13, 2014) or analogous exemptions in each of the applicable permitted jurisdictions
for shareholders of record as of June 30, 2020, as well as other exemptions. As at the date hereof, the
Existing Security Holder Exemption is available in each of the provinces of Canada, with the exception of
Newfoundland and Labrador. A finder's fee may be paid in accordance with regulatory policies.
In addition to the Existing Security Holder Exemption and other available prospectus exemptions, a
portion or all of the offering may be completed pursuant to Multilateral CSA Notice 45-318
Prospectus
Exemption for Certain Distributions through an Investment Dealer
("
CSA Notice 45-318
"), and the
corresponding blanket orders and rules implementing CSA Notice 45-318 in the participating
jurisdictions in respect thereof. As at the date hereof, the exemption available under CSA Notice 45-318
(the "
Investment Dealer Exemption
") is available in each of Alberta, British Columbia, Saskatchewan,
Manitoba and New Brunswick. Pursuant to CSA Notice 45-318, each subscriber relying on the
Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a
registered investment dealer. There is no material fact or material change of the Company that has not
been generally disclosed.
As required by BC Instrument 45-534 and CSA Notice 45-318, the attached table sets out the intended
use of proceeds of the offering on a percentage basis. The intended uses of proceeds and/or the
Company's development capital needs may vary based upon a number of factors.
Estimated fund allocation is as follows.
Working capital:
100 per cent
Total:
100 per cent
If you are an existing security holder or qualified person with respect to the existing security holder
exemption or the investment dealer exemption noted above and you have interest in this offering, please
call or e-mail the Company.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/60440