Sienna Resources to Raise $500,000
Vancouver, June 24, 2019 - Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink: SNNAF) (the "Company") is proposing a non-brokered private placement to consist of up to ten million units at 5 cents per unit for gross proceeds of up to $500,000. Each unit will consist of one common share in the capital of the Company and one transferable share purchase warrant, exercisable at 5 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 (the "Existing Security Holder Exemption") found in B.C. Instrument 45-534 Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders ("BC Instrument 45-534") 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 June 6, 2019, 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 ("CSA Notice 45-318"), 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 (the "Investment Dealer Exemption") 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 BC 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.
Estimated fund allocation is as follows.
Working capital: 100 per cent
Total: 100 per cent
If you are an existing security holder or qualified person with respect to the existing security holder exemption or the investment dealer exemption noted above and you have interest in this offering, please call or e-mail the Company.
Any questions or inquires about this placement please call President Jason Gigliotti directly at 604 646 6900 or toll free 1 855 646 6901 or email info@siennaresources.com
If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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