- Sterling Metals (SAG) has announced a non-brokered private placement for gross proceeds of up to $2,500,000
- The company will issue up to 12,500,000 units priced at $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$0.205 per share
Sterling Metals (SAG) has announced a non-brokered private placement for gross proceeds of up to $2,500,000.
The company will issue up to 12,500,000 units priced at $0.20 per unit. Each unit will include one common share and one share purchase warrant. Each warrant shall entitle the holder to acquire one additional share at a price of $0.40 for a period of two years.
The company may pay a cash commission and issue broker warrants to eligible finders.
All securities issued will be subject to a four-month hold period.
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 approvals, including the approval of the TSX Venture Exchange.
Sterling Metals Corp is engaged in the exploration and development of resource properties. The company is exploring for silver and base metals at its newly acquired Sail Pond project in Northwestern Newfoundland.
Sterling Metals Corp. (SAG) opened trading at C$0.205 per share.