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Sterling Metals (TSXV:SAG, OTCQB:SAGGD) has successfully closed a non-brokered private placement, raising $1,520,500 through the issuance of 6,082,000 units at $0.25 per unit. Each unit consists of one common share and half a warrant, with each full warrant allowing purchase of one common share at $0.40 for two years.
The company paid finders a 6% commission totaling $8,250 and issued 33,000 broker warrants. Company insiders participated in the offering, subscribing for 400,000 units. The securities will have a four-month hold period, and the proceeds will be used for general working capital purposes.
The offering required TSX Venture Exchange approval and constituted a related party transaction under MI 61-101, though the company qualified for exemptions from valuation and minority shareholder approval requirements.
Sterling Metals Corp (TSXV:SAG, OTCQB:SAGGD) has announced an increase in its non-brokered private placement offering from its previous announcement on March 4, 2025. The upsized offering will now consist of up to 5,200,000 units at $0.25 per unit, aiming to raise aggregate gross proceeds of up to $1,300,000.
Each unit comprises one common share and one-half of one Common Share purchase warrant. Each whole warrant allows holders to acquire one Common Share at $0.40 per share within two years of the offering's closing. The company may pay eligible finders a 6% cash commission and 6% broker warrants.
The proceeds will be used for general working capital purposes. The offering's closing is subject to regulatory approvals, including TSX Venture Exchange approval. CEO Mathew Wilson noted strong demand from existing shareholders, expressing confidence in the Copper Road Project's potential as they prepare for their inaugural drill program.
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