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CALGARY, ALBERTA--(Marketwire - Oct. 26, 2012) - Sienna Gold Inc ("Sienna" or the "Company") (TSX VENTURE:SGP) (LMA:SGP) announces that it has completed a first closing of its previously announced private placement financing. The Corporation issued 3,286,667 units at US$0.30 per unit ($986,000 US), with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to subscribe for one additional share for US$0.45 for a period of one year from closing. Proceeds will be used for further exploration work on the Corporation's Igor project in Peru and for general working capital. Sienna paid commissions of $58,520 and issued 230,067 broker warrants, each of which will entitle the holder to subscribe for one additional unit at the issue price for a period of one year from closing. All securities issued pursuant to this placement are restricted from trading until February 26, 2013. |
