Freeport Resources

Sienna Resources To Raise $2 million for Cobalt and Lithium Project Development

Vancouver, British Columbia--(Newsfile Corp. - December 18, 2017) - Sienna Resources (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink: SNNAF) is proposing a non-brokered private placement to consist of up to ten million units at 20 cents per unit for gross proceeds of up to $2-million. Each unit will consist of one common share in the capital of the company and one transferable share purchase warrant, exercisable at 30 cents for a period of five years. The private placement is subject to approval of the TSX Venture Exchange.

Sienna Resources Inc. plans to rely upon the existing security holder exemption found in B.C. Instrument 45-534 (Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders) 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 Dec. 15, 2017, 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), 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 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 B.C. 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.

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