- Sterling Metals (SAG) has closed its previously announced non-brokered private placement for gross proceeds of $3,000,000
- The company issued 15,000,000 units at a price of $0.20 per unit
- The net proceeds will be used for general working capital purposes
- Sterling Metals Corp is engaged in the exploration and development of resource properties
- Sterling Metals Corp. (SAG) opened trading at C$0.295 per share
Sterling Metals (SAG) has closed a non-brokered private placement for gross proceeds of $3,000,000.
The company issued 15,000,000 units at a price of $0.20 per unit. Each unit is comprised of one common share and one share purchase warrant. Each warrant shall entitle the holder to acquire one common share at a price of $0.40 per share for a period of two years.
Mathew Wilson, CEO of Sterling Metals commented on the capital raise.
“We would like to thank our existing and new shareholders for the overwhelming support in completing an over-subscribed private placement. The support shows great confidence in the work we have ahead and we look forward to our planned exploration program.”
The company paid finder’s fees consisting of a cash commission of $118,810 and 594,050 broker warrants.
All securities issued are subject to a hold period of four months.
The net proceeds will be used for general working capital purposes.
The closing of the offering is subject to the receipt of all necessary regulatory and other approvals.
Sterling Metals Corp. (SAG) opened trading at C$0.295 per share.