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Sierra Growth Corp. (CSE: SGRO, OTC: SIERF) announced a definitive agreement with Primus Resources to earn a 100% interest in three gold-silver projects in Nevada. The projects include Glitra/Sat, B&C Springs/Mildred, and Betty East, totaling over 2983 acres. Sierra plans to initiate a Phase I exploration program starting in April 2021, focusing on geological mapping and soil geochemistry. Cash payments totaling $675,000, $500,000, and $500,000 along with share payments of 400,000 shares will be made over six years. The agreement involves a 2.0% Net Smelter Return (NSR) with specific buy-down provisions.
Sierra Growth Corp. (CSE: SGRO, OTC: SIERF) successfully completed a non-brokered private placement, raising Cdn $751,140 through the sale of 12,519,000 units at Cdn $0.06 per unit. Each unit consists of one common share and one warrant exercisable at $0.08 for two years. The oversubscribed financing will support exploration efforts in Western Nevada, starting in early spring 2021. The placement is subject to a four-month hold period and includes related party participation. Finder's fees amount to $3,498.60.