Sierra Madre Gold & Silver (TSXV: SM) has upsized its previously announced non-brokered private placement to raise gross proceeds of approximately C$16.5M. The offering now consists of up to 23,571,429 units priced at C$0.70 per unit. Each unit includes one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at C$0.85 for a period of 12 months following the closing date. The offering is expected to close on or about July 24, 2025, subject to regulatory approvals.
Proceeds from the financing will be used to fund development and working capital requirements at the Guitarra mine in Mexico, where commercial production began in January 2025, as well as for corporate and exploration expenses across the company’s portfolio, including the Tepic project in Nayarit. The company has appointed Beacon Securities as lead agent for the offering, along with a syndicate of agents, to facilitate placement among qualified investors in Canada and the United States.
To find out more, please visit www.sierramadregoldandsilver.com
To read more articles like this, please visit www.theassay.com/news
