- Sienna Resources (SIE) has arranged a non-brokered private placement financing for gross proceeds of up to $3.5 million
- The proceeds will be used towards the company’s work programs
- Sienna Resources explores and develops high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions
- Sienna Resources Inc. (SIE) opened trading at C$0.06 per share
Sienna Resources (SIE) has arranged a non-brokered private placement financing for gross proceeds of up to $3.5 million.
The company will issue up to 70 million units at five cents per unit. Each unit consists of one common share and one transferable share purchase warrant. Each warrant is exercisable for one additional common share at an exercise price of eight cents for five years following the closing of the offering.
The proceeds will be used towards the company’s work programs and general working capital.
A finder’s fee may be payable to all eligible finders.
Jason Gigliotti, President of Sienna Resources, commented on the capital raise.
“We are pleased to announce this placement. We will be able to move forward on multiple lithium projects as well as be in a great position to look at additional accretive projects. Sienna is a large landholder in Clayton Valley, Nevada. The tiny Clayton Valley is home to the only producing lithium mine currently in production in North America.”
Sienna Resources explores and develops high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions.
Sienna Resources Inc. (SIE) opened trading at C$0.06 per share.