Sierra Madre Announces Conversion of Subscription Receipts
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Sierra Madre Announces Conversion of Subscription Receipts
Vancouver, British Columbia – November 17 , 2023 – Sierra Madre Gold and Silver Ltd. (TSXV:SM,
OTCQX:SMDRF) (the “ Company”) is pleased to announce that, further to the Company’s news releases
dated May 31, 2023 , September 14, 2023 and October 17, 2023 , the escrow release conditions of all
5,123,092 subscription receipts have been satisfied and the proceeds from the purchase of the
subscription receipts have been released from escrow. As a result, the subscription receipts have
converted into a total of 5,123,092 common shares in the capital of the Company, and the Company now
has access to the $3,330,010 in proceeds. For additional information on the subscription receipts, please
refer to the above-noted news releases.
About Sierra Madre
Sierra Madre Gold & Silver (TSX.V:SM, OTCQX:SMDRF) is a precious metals development and exploration
company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec
mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit,
Mexico. The La Guitarra Mine is a permitted, past -producing underground mine which includes a 500 t/d
processing facility that operated until mid-2018.
The +2,600 ha Tepic project hosts low -sulphidation epithermal gold and silver mineralization with an
existing historic resource. La Tigra, located 148 km north of Tepic, has been mined historically; Sierra
Madre’s maiden 2022 drill program at the site intercepted shallow mineralization.
Sierra Madre’s management has played key roles for managing exploration and development of more than
22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre’s team of professionals
has collectively raised over $1B for mining companies.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
“Alexander Langer”
Alexander Langer
President, Chief Executive Officer and Director
+1 (604) 765-1604
Contact:
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
This press release contains "forward-looking information" and "forward-looking statements" within the
meaning of applicable securities legislation. The forward-looking statements herein are made as of the
date of this press release only, and the Company does not assume any obligation to update or revise them
to reflect new information, estimates or opinions, future events or results or otherwise, except as required
by applicable law. Often, but not always, forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts",
"projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative
variations) of such words and phrases or may be identified by statements to the effect that certain actions
"may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking
information in this press release includes, but is not limited to, statements with respect to the completion of
the Transaction on the terms set out in the definitive agreement (or at all) and the ability of the Company
to obtain requisite corporate and regulatory approvals for the Transaction, including but not limited to the
approval of the Exchange, Mexican antitrust approval and other governmental approvals as currently
anticipated.
In making the forward-looking statements included in this news release, the Company has applied several
material assumptions, including that the Company will be able to receive all required regulatory approvals
by the timelines currently anticipated (or at all); and that the Company will be able to complete the
Transaction on the terms of the definitive agreement. Forward-looking statements and information are
subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the
Company to control or predict, that may cause the Company´s actual results, performance or achievements
to be materially different from those expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to,
the risk that the Company is not able to complete Transaction on the terms set out in the definitive
agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and regulatory
approvals, including but not limited to the approval of the TSX Venture Exchange, the Mexican antitrust
approval and governmental approval as currently anticipated.
Such forward-looking information represents management´s best judgment based on information currently
available. No forward-looking statement can be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Sierra Madre Gold and Silver