Sierra Metals Announces Refinancing Agreement and Ongoing Discussions to Allow for Flexibility on Debt Repayment for 2023

14 March 2023

Sierra Metals Inc. announced today that the Company, Banco de Credito del Peru and Banco Santander S.A. are engaged in advanced discussions on terms to refinance $18,750,000 of the $25,000,000 principal debt repayment obligations that are due in 2023 under the Company’s senior secured credit facility. All figures in this news release are stated in U.S. dollars.

The parties intend to formalize the refinancing contract prior to the due date of the second quarterly principal installment on June 8, 2023, subject to, among other things, the completion of due diligence.

The Lenders have agreed to provide a bridge loan of $6,250,000 to refinance the first quarter 2023 amortization payment, due on March 8, 2023, while the refinancing contract for the balance of the 2023 payments is being finalized.

2022 Financial Results

Sierra Metals also announced a revised date of March 28, 2023 for the expected filing of its financial and operating results for the year ended December 31, 2022. The Company’s senior management team will host a conference call on Wednesday, March 29, 2023, at 11:00 AM EDT to discuss the results. The call may be accessed as follows.

Via Webcast:

A live audio webcast of the meeting will be available on the Company's website:

The webcast, along with presentation slides, will be archived for 180 days on

Via phone:

For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.

Canada dial-in number (Toll Free): 1 833 950 0062
Canada dial-in number (Local): 1 226 828 7575
US dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
All other locations: +1 929 526 1599

Access code: 077974

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