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Sierra Grande Minerals Inc.
Sierra Grande Minerals Inc.
Registriert in: Kanada WKN: A3DWEK Rohstoffe:
Art: Originalaktie ISIN: CA82631L2075 Gold
Heimatbörse: CSE Alternativ: SIERF
Währung: CAD    
Symbol: SGRO.CSE Forum:

Sierra Growth Corp. Completes Oversubscribed Non-Brokered Private Placement

23.02.2021 | 15:00 Uhr | CNW
SURREY, Feb. 23, 2021 - Sierra Growth Corp. ("Sierra" or the "Company") (CSE: SGRO) (OTC: SIERF) (FSE: F91Q) announces that it has completed its non-brokered private placement raising proceeds of Cdn $751,140 through the sale of 12,519,000 units at Cdn $0.06 per unit. Units are comprised of one common share and one common share purchase warrant. Each warrant is exercisable at $0.08 for two years after closing, subject to an accelerated 30-day expiry date in the event the Company's shares trade at or above $0.25 for 10 consecutive days.

Sierra's CEO Sonny Janda commented, "This oversubscribed financing will allow Sierra to advance our exciting new projects in Western Nevada with the aim of beginning exploration work in early spring, 2021. I look forward to providing the market with more detailed guidance in the coming weeks regarding this exploration program."

The securities issued pursuant to this placement are subject to a statutory hold period of 4 months and a day ending on June 19, 2021. The Company will pay finder's fees of $3,498.60. Proceeds of the offering will be used for exploration and general working capital.

Certain directors of the Company have participated in the private placement and are considered "related parties" to the Company under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101").

This private placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of any securities issued to or the consideration paid by those directors will exceed 25% of the Company's market capitalization

Per: Sonny Janda, Director

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE Sierra Growth Corp.

please contact Sonny Janda, Director, Tel: (604) 357-3741 or at sonny.janda@sierragrowth.com

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