Day: March 17, 2025

Goldgroup Mining Inc. closed the first tranche of a CAD $7.75M non-brokered private placement on March 17, 2025, raising ~$7M via 23.33M units at $0.30 each (one share + ½ warrant at $0.45 until 2027). Eric Sprott invested $6.75M for 22.5M units. Proceeds for mine improvements, PEA update, debt, working capital; subject to TSXV approval.

Ernesto Balarezo, CEO of Sierra Metals, commented, “I am very pleased to report that the investments we have made in our business units have resulted in record production levels for Sierra Metals. The operational enhancements have strengthened our financial position and will enable the Company to pursue sustainable growth safely and responsibly.”