Sienna Proposes Flow Through Financing
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2020) - Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink: SNNAF) (the "Company") wishes to announce a proposed flow through financing of up to $200,000 at nine cents per share. Sienna Resources Inc. plans to rely upon the accredited investor exemption (the "Accredited Investor Exemption") found in National Instrument 45-106 Prospectus Exemptions as well as other exemptions. A finder's fee may be paid. This placement and finder's fee are subject to TSX Venture acceptance.
This flow through will be allocated primarily for Sienna's Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s 7.1-million-ounce palladium-equivalent Marathon Deposit. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
Jason Gigliotti states, "We are planning to use these proceeds to work on our Marathon North Platinum-Palladium Property at a time when palladium has just touched 6 month highs. Not only do we plan to be active on this exciting project we are also very active in Scandinavia on our platinum-palladium project in Finland and we expect to be drilling on our Norway gold project making the remainder of 2020 a very active period for Sienna."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
About Sienna Resources
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc., and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp's Silver Peak deposit and Tesla Motors Inc.'s Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
None of the securities sold in connection with the private placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Sienna Resources Inc.
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