On January 14, 2026, Sierra Madre Gold and Silver Ltd. completed the first tranche of its $50 million brokered private placement. The offering was conducted pursuant to an agency agreement dated January 14, 2026, entered into by Sierra Madre, Beacon Securities Limited as lead agent and sole bookrunner, Canaccord Genuity Corp., BMO Capital Markets and VSA Capital Limited.
In connection with the first tranche, the company has issued 30,521,724 subscription receipts at a price of $1.30 per subscription receipt for gross proceeds of approximately $39.6 million.
Cassels is acting for the agents.