11:37 AM EDT, 07/31/2025 (MT Newswires) -- Sierra Madre Gold and Silver ( SMDRF ) on Thursday said it raised $1.75 million as it closed the second and final tranche of its $19.5 million brokered private placement offering of units.

The second tranche consisted of 2.5-million units priced at $0.70 and made up of a share and one half of a one-year warrant to buy a second share for $0.85.

The company plans to use the proceeds of the offering to expand the capacity of the Guitarra mine in Mexico, conduct a detailed exploration program, including drilling, at the East District, and for working capital and general corporate purposes.

The company's shares were last seen up $0.03 to $0.72 on the TSX Venture Exchange.

Price: 0.72, Change: +0.03, Percent Change: +4.35