Sierra Madre Makes Final Payment for Tepic Project, Nararit, Mexico
Sierra Madre Gold and Silver Ltd. (OTCQB:SMDRF) has finalized its acquisition of the Tepic Silver/Gold Project in Nayarit, Mexico, with a final payment of USD$50,000.
Sentiment and the balance of points
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Rhea-AI Summary
Sierra Madre Gold and Silver Ltd. (OTCQB:SMDRF) has finalized its acquisition of the Tepic Silver/Gold Project in Nayarit, Mexico, with a final payment of USD$50,000. The licenses will be transferred to its subsidiary, PITA Exploration S. DE R.L. DE C.V.
The company has also granted 500,000 stock options to consultants at a price of $0.74 per share for five years. These options will vest in three increments over the next year. Sierra Madre is focused on advancing exploration on its properties to identify commercially viable deposits.
Positive
- Acquisition of Tepic Silver/Gold Project enhances asset portfolio.
- Stock options potentially incentivize consultants, aligning interests.
Negative
- None.
Details
News Market Reaction – SMDRF
The recorded move for SMDRF in the trading session of this news was -5.41%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESSWIRE / April 29, 2022 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQB:SMDRF) ("Sierra Madre" or the "Company") is pleased to announce it has made the final payment of USD
Sierra Madre also announces that, pursuant to its Stock Option Plan, it has granted stock options to certain consultants to purchase an aggregate of 500,000 common shares of the Company at the price of
About Sierra Madre
Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the acquisition, exploration and development of the Tepic and La Tigra Properties in Nayarit, Mexico. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement, and monetization. Sierra Madre's key objective is to advance exploration on the Tepic and La Tigra Properties to determine whether they contain commercially exploitable deposits of precious or base metals.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
CONTACT:
investor@sierramadregoldandsilver.com
Cautionary Note
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 news release.
SOURCE: Sierra Madre Gold and Silver
View source version on accesswire.com:
https://www.accesswire.com/699378/Sierra-Madre-Makes-Final-Payment-for-Tepic-Project-Nararit-Mexico
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