Source: Sienna Resources.
  • Sienna (SIE) has closed the second tranche of its private placement
  • The second tranche involved the issuance of 10,280,000 units priced at $0.05 for gross proceeds of $514,000
  • Gross proceeds of $2,907,500 from the first and second tranches will be allocated toward drilling on current projects, as well as general working capital
  • Sienna Resources explores for lithium as one of the larger landholders in Clayton Valley, Nevada
  • Sienna (SIE) opened unchanged trading at $0.055 per share

Sienna (SIE) has closed the second tranche of its private placement.

The second tranche involved the issuance of 10,280,000 units priced at $0.05 for gross proceeds of $514,000.

Each unit is comprised of one common share and one transferrable share purchase warrant.

Each warrant entitles the holder to acquire one share priced at $0.08 until March 27, 2028.

Gross proceeds of $2,907,500 from the first and second tranches will be allocated toward drilling on current projects, as well as general working capital.

All securities issued are subject to a statutory hold period that expires on July 28, 2023.

On March 25, 2022, Sienna revealed a new lithium discovery on the Blue Clay Lithium Project in Clayton Valley, Nevada, with values as high as 1,230 ppm Li.

“We are now in the best financial position in the company’s history,” stated Jason Gigliotti, President of Sienna Resources. “This financing will allow Sienna to work on all of our current projects, evaluate any new strategic projects, as well as to embark on a capital markets strategy. Sienna is a large landholder in Clayton Valley, Nevada. Clayton Valley is home to the only producing lithium mine currently in production in North America. We are very optimistic about 2023.”

Sienna Resources explores for lithium as one of the larger landholders in Clayton Valley, Nevada.

Sienna (SIE) opened unchanged trading at $0.055 per share.


More From The Market Online

Red Light Holland and PharmAla notch psilocybin extraction

Red Light Holland (CSE:TRIP) reveals it has successfully completed the first phase of psilocybin extraction to PharmAla Biotech (CSE:MDMA).

A&W will expand Pret A Manger brand across Canada

A&W Revenue Royalties Income Fund (TSX:AW.UN) and A&W Food Services of Canada form a long-term development plan with Pret a Manger.

SSR Mining reviews deadly landslide, faces class-action lawsuits

SSR Mining (TSX:SSRM) faces mounting losses after a series of negative developments, culminating in a securities class action lawsuit.
Bombardier - Executive Advisor, Christophe Degoumois

Bombardier will fight lawsuit in Superior Court of Québec

Bombardier (TSX:BBD.B) intends to defend itself in Québec’s highest court against accusations that former executives misled investors.