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

Executive Summary

• Sienna Resources completed the first tranche of its private placement, issuing 15,322,001 units at $0.12 per unit for gross proceeds of $1,838,640.
• Units consist of one common share and one transferable warrant (exercise price $0.17, expiring 27 Oct 2030); finder’s fees were paid in cash ($78,111) and non‑transferable warrants.
• Net proceeds will fund general working capital and upcoming gold and lithium drill programs; a second tranche is expected to close soon.

Key Details

• Units Issued: 15,322,001 at $0.12 each → Gross Proceeds: $1,838,640.
• Unit Composition: 1 common share + 1 transferable warrant (exercise price $0.17 per share; expiry 27 Oct 2030).
• Finder’s Fees: $78,111 paid in cash; 591,543 non‑transferable finder’s warrants issued (exercise price $0.17; expiry 27 Oct 2027).
• Statutory Hold Period: All securities subject to hold until 28 Feb 2026.
• Use of Proceeds: General working capital; evaluation and execution of existing projects, including planned gold and lithium drill programs.
• Regulatory Condition: Financing pending final approval by the TSX Venture Exchange.
• Next Steps: Anticipated closing of a second tranche shortly.

Notable Quotes

“We are pleased to announce the successful completion of the first portion of the placement. The funds raised are more than sufficient to cover the costs of multiple work programs and to support a robust marketing budget.” – Jason Gigliotti, President, Sienna Resources Inc.