THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
February 21, 2023, Sienna Resources Inc. (“Sienna” or the “Company”) (SIE—TSX.v, SNNAF—USA, A1XCQ0–Germany) wishes to announce that it has arranged a non-brokered private placement financing for up to three million five hundred thousand dollars at five cents per unit. Each unit comprises of one common share and one transferable share purchase warrant. The warrants of the units have an exercise price of eight cents per warrant share and a life of five years. The proceeds will be used towards the company’s work programs and general working capital. A finder’s fee may be payable to all eligible finders.
Any questions regarding this placement please contact President Jason Gigliotti directly at 604 646 6900 or [email protected]
Jason Gigliotti, President of Sienna Resources Inc states, “We are pleased to announce this placement. We will be able to move forward on multiple lithium projects as well as be in great position to look at additional accretive projects. Sienna is a large landholder in Clayton Valley Nevada. The tiny Clayton Valley is home to the only producing lithium mine currently in production in North America.”
Recently, the Bureau of Land Management (BLM) has given Sienna approval for up to 4 additional holes to be completed on the 100% owned Blue Clay Lithium Project in Clayton Valley, Nevada (See map below). On March 25, 2022, Sienna revealed a new lithium discovery on the 100% owned Blue Clay Lithium Project in Clayton Valley, Nevada. Lithium values as high as 1230 ppm Li were encountered. The Blue Clay Lithium Project consists of 150 contiguous claims totaling approximately 2,950 acres prospective for lithium right in the heart of the Clayton Valley in Nevada, which is currently home to the only producing lithium region in North America.
Clayton Valley Map
None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Sienna Resources Inc.
Sienna is one of the larger landholders in Clayton Valley Nevada. Sienna’s Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. The Clayton Valley is home to the only lithium production in North America, being Albemarle Corp’s (NYSE: ALB) Silver Peak deposit. This project is also near Tesla Motors Inc.’s (Nasdaq: TSLA) Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture (NYSE: SLB) announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy (TSX.v: PE). The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Sienna also has the ‘Marathon North Platinum-Palladium Property’ in Northern Ontario directly bordering Generation Mining (CSE: GENM) Marathon Deposit.
Qualified Person:
Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.
If you would like to be added to Sienna’s email list, please email [email protected] for information or join our twitter account at @SiennaResources.
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.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.