Sierra Madre’s Strategic $1M Private Placement

Sierra Madre Gold & Silver Ltd. (TSE:SM) has released an update.

Sierra Madre Gold & Silver Ltd. announces a $1 million non-brokered private placement at $0.28 per share, aimed at funding the restart plan for their La Guitarra Silver-Gold Mine in Mexico. The shares, offered to an existing institutional shareholder, are expected to be fast-tracked without the usual hold period, thanks to a listed issuer financing exemption. This strategic financial move is set to bolster the company’s project without the need for a public offering in Canada, excluding Quebec.

For further insights into TSE:SM stock, check out TipRanks’ Stock Analysis page.