TSXV:SAG

Sterling Metals Announces Upsizing of Private Placement to up to $3.8 Million

 Sterling Metals Corp. (TSXV: SAG) (the "Company") is pleased to announce that further to its press release of November 23, 2020, the Company has agreed with StephenAvenue Securities Inc. (the "Agent") to increase the size of the flow-though and charity flow-through portions of its "best efforts" private placement for gross proceeds (including the previously announced unit offering) of up to $3,750,864, through the issuance of additional flow-through units (each, a "FT Unit") at a price of $0.35 per FT Unit and charity flow-through units (each, a "Charity FT Unit") at a price of $0.39 per Charity FT Unit (the "Offering").

Each FT Unit shall be comprised of one common share in the capital of the Company, issued on a flow-through basis ("FT Share") and one common share purchase warrant ("Warrant"), issued on a non-flow-through basis, each Warrant entitling the holder thereof to acquire one additional non-flow-through common share of the Company at a price of $0.45 for a period of two (2) years from the closing date of the Offering. Each Charity FT Unit shall be comprised of one Common Share, issued on a flow-through basis ("Charity FT Share") and one Warrant, having the same terms as the Warrants comprising the Units and FT Units. The FT Shares and the Charity FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada).

All securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation. The gross proceeds from the sale of the FT Units and the Charity FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through expenditures" as such terms are defined in the Income Tax Act (Canada).

The Offering is anticipated to close on or about December 11, 2020, or such other later date as the Company and the Agent may reasonably agree. The Offering may close in one or more tranches. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information, please contact:

Sterling Metals Corp.
Mathew Wilson, President & CEO
Tel: (416) 643-7630
Email: info@sterlingmetals.ca
Website: www.sterlingmetals.ca

StephenAvenue Securities Inc.
Daniel Cappuccitti
Tel: (416) 479-4478
Toll Free: 1-844-540-2018
Fax: (416) 866-4141
Email: dcappuccitti@stephenavenue.com

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 release.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69303

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Sun Summit Commences 2025 Exploration Program at the JD Project, Toodoggone District, British Columbia

Sun Summit Commences 2025 Exploration Program at the JD Project, Toodoggone District, British Columbia

Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to announce the commencement of its $6 million 2025 project-wide exploration program at the JD Project, Toodoggone Mining District, north-central British Columbia. Over 5,000 meters of drilling together with geophysical and geochemical surveys are designed to focus on target advancement, target generation and discovery.

Highlights and Next Steps:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Los Andes Copper (TSXV:LA)

Los Andes Copper


Keep reading...Show less
Questcorp Mining (CSE:QQQ)

Questcorp Mining

Keep reading...Show less
Forte Minerals (CSE: CUAU)

Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

Forte Minerals Corp. (Forte” or the “Company) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), a copper-gold exploration company focused on Peru, has successfully closed its oversubscribed non-brokered private placement, raising gross proceeds of C$2,690,000.

A C$2.4 million financing was initially announced on May 23, 2025. It was met with high investor demand, resulting in the issuance of 6,725,000 units at a price of C$0.40 per unit, and within the right of increase reserved by the Company.

Keep reading...Show less
Electric Royalties (TSXV:ELEC)

Electric Royalties Announces CFO Transition

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce the appointment of Robert Scott as Chief Financial Officer. Mr. Scott is replacing Luqman Khan, who has departed the Company to pursue other opportunities.

Mr. Scott, a CPA, CA, and CFA, brings more than 25 years of professional experience in accounting, corporate finance, compliance and banking, and has served on the management teams and boards of a select number of Canadian publicly traded companies. Throughout his career, Mr. Scott has helped raise more than $200 million in equity financing and developed extensive experience in IPOs, reverse takeovers, mergers and acquisitions, and corporate restructuring. He is a founder and President of Corex Management Inc. ("Corex"), which provides professional services to privately held and publicly traded companies. Mr. Scott has significant public company experience, including senior management and board positions with a number of TSX Venture Exchange issuers including Capitan Silver Corp., K2 Gold Corporation, Riverside Resources Inc., Great Bear Resources Ltd. and First Helium Inc.

Keep reading...Show less

Latest Press Releases

Related News

×