Sienna Resources Inc. Closes First Tranche of Private Placement to Fund Multiple Work Programs

Core Points - Sienna Resources Inc. has successfully completed the first tranche of its private placement, raising a total of $1,838,640 by issuing 15,322,001 units at a price of $0.12 per unit [1][3] - Each unit consists of one common share and one transferable share purchase warrant, with the warrants allowing the purchase of shares at $0.17 until October 27, 2030 [1][3] - The net proceeds from the financing will be allocated towards general working capital and existing projects, including drill programs for gold and lithium [3][4] Financial Details - The company paid cash finder's fees of $78,111 and issued 591,543 non-transferable share purchase warrants as part of the financing [2] - Each Finder's Warrant allows the purchase of one share at $0.17 until October 27, 2027 [2] - All securities issued are subject to a statutory hold period expiring on February 28, 2026 [2] Management Commentary - Jason Gigliotti, President of Sienna, expressed satisfaction with the successful completion of the placement, stating that the funds raised are sufficient to cover multiple work programs and support a robust marketing budget [4] - The company is committed to ensuring that the placement benefits all shareholders and drives future growth [4]