Sierra Metals to Complete Voluntary Delisting From BVL

Rhea-AI Summary

Sierra Metals Inc. (TSX:SMT) has announced its voluntary delisting from the Lima Stock Exchange, confirmed by the Peruvian Stock Market Superintendent on December 13, 2022, effective December 15, 2022. The company will continue to be listed on the Toronto Stock Exchange. This strategic move aims to enhance the company's focus on its operations in Peru and Mexico, specifically its Yauricocha, Bolivar, and Cusi mines, while supporting increased production and resource growth.

Positive

• Voluntary delisting from the Lima Stock Exchange allows for a streamlined focus on operations.
• Continued trading on the Toronto Stock Exchange provides access to a larger market.
• Focus on increasing production volume and mineral resource growth at three key mines.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX:SMT) (“Sierra Metals” or the “Company”) announces that on December 13, 2022, the Peruvian Stock Market Superintendent (SMV) issued Resolution Nº 087-2022-SMV/11.1. This confirms the removal of the Company’s securities from the Stock Market Public Registry and approves the voluntary delisting of its common shares from the Lima Stock Exchange (BVL), effective December 15, 2022.

Sierra Metals’ common shares will continue to trade on the Toronto Stock Exchange.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. The Company has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

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Forward-Looking Statements

This press release contains forward-looking information within the meaning of Canadian and United States securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 16, 2022 for its fiscal year ended December 31, 2021 and other risks identified in the Company's filings with Canadian securities regulators and the SEC, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

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Investor Relations

Tel: +1 (416) 366-7777

Email: info@sierrametals.com

Source: Sierra Metals Inc.

FAQ

What date did Sierra Metals announce its delisting from the Lima Stock Exchange?

Sierra Metals announced its delisting on December 13, 2022.

When will Sierra Metals' delisting from the Lima Stock Exchange become effective?

The delisting will be effective on December 15, 2022.

Will Sierra Metals continue trading on any stock exchanges after delisting?

Yes, Sierra Metals will continue to trade on the Toronto Stock Exchange.

What are the key operations of Sierra Metals?

Sierra Metals is focused on its Yauricocha Mine in Peru and Bolivar and Cusi Mines in Mexico.