Sterling Metals Announces Closing of Private Placement of Units and Flow-through Shares
Sterling Metals (OTCQB:SAGGF) has successfully closed its non-brokered private placement, raising aggregate gross proceeds of $2.5 million. The offering consisted of 3,193,445 flow-through shares at $0.42 per share and 3,310,723 units at $0.35 per unit.
Each unit includes one common share and a half warrant, with each full warrant exercisable at $0.50 per share for two years. The company paid $69,324.97 in cash commissions and issued 167,915 broker warrants. The proceeds from unit sales will support working capital, while flow-through funds will be used for Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures.
Sterling Metals (OTCQB:SAGGF) ha concluso con successo il suo collocamento privato senza intermediari, raccogliendo un ricavato lordo complessivo di 2,5 milioni di dollari. L’offerta comprendeva 3.193.445 azioni flow-through a 0,42 dollari ciascuna e 3.310.723 unità a 0,35 dollari per unità.
Ciascuna unità include un’azione ordinaria e mezza warrant, con ogni warrant intero esercitabile a 0,50 dollari per azione per due anni. La società ha pagato 69.324,97 dollari in commissioni in contanti e ha emesso 167.915 warrant per i broker. I proventi derivanti dalla vendita delle unità sosterranno il capitale circolante, mentre i fondi flow-through saranno utilizzati per spese di esplorazione in Canada qualificabili come spese di estrazione di minerali critici flow-through.
Sterling Metals (OTCQB:SAGGF) ha cerrado con éxito su colocación privada sin intermediarios, recaudando un total bruto de 2,5 millones de dólares. La oferta consistió en 3.193.445 acciones flow-through a 0,42 dólares por acción y 3.310.723 unidades a 0,35 dólares por unidad.
Cada unidad incluye una acción común y una mitad de warrant, siendo cada warrant completo ejercitable a 0,50 dólares por acción durante dos años. La compañía pagó 69.324,97 dólares en comisiones en efectivo y emitió 167.915 warrants para corredores. Los ingresos de la venta de unidades apoyarán el capital de trabajo, mientras que los fondos flow-through se utilizarán para gastos de exploración en Canadá que califican como gastos mineros de minerales críticos flow-through.
Sterling Metals (OTCQB:SAGGF)는 중개인 없이 진행된 사모 배정을 성공적으로 마감하여 총 250만 달러의 총 수익을 모았습니다. 이번 공모는 주당 0.42달러에 3,193,445개의 플로우스루 주식과 주당 0.35달러에 3,310,723개의 단위로 구성되었습니다.
각 단위는 보통주 1주와 워런트 0.5주를 포함하며, 각 워런트 1주는 2년간 주당 0.50달러에 행사 가능합니다. 회사는 현금 수수료로 69,324.97달러를 지급했으며 167,915개의 중개인 워런트를 발행했습니다. 단위 판매 수익은 운전자본을 지원하는 데 사용되며, 플로우스루 자금은 캐나다 내 플로우스루 핵심 광물 채굴 비용으로 인정되는 탐사 비용에 사용될 예정입니다.
Sterling Metals (OTCQB:SAGGF) a clôturé avec succès son placement privé sans intermédiaire, levant un produit brut total de 2,5 millions de dollars. L’offre comprenait 3 193 445 actions flow-through à 0,42 $ chacune et 3 310 723 unités à 0,35 $ l’unité.
Chaque unité comprend une action ordinaire et un demi-warrant, chaque warrant complet étant exerçable à 0,50 $ par action pendant deux ans. La société a versé 69 324,97 $ en commissions en espèces et émis 167 915 warrants pour courtiers. Les produits de la vente des unités soutiendront le fonds de roulement, tandis que les fonds flow-through seront utilisés pour des dépenses d’exploration au Canada qualifiées comme dépenses minières flow-through pour minerais critiques.
Sterling Metals (OTCQB:SAGGF) hat seine nicht vermittelte Privatplatzierung erfolgreich abgeschlossen und dabei einen Bruttoerlös von 2,5 Millionen US-Dollar erzielt. Das Angebot bestand aus 3.193.445 Flow-Through-Aktien zu je 0,42 US-Dollar und 3.310.723 Einheiten zu je 0,35 US-Dollar.
Jede Einheit beinhaltet eine Stammaktie und eine halbe Option, wobei jede volle Option für zwei Jahre zu 0,50 US-Dollar pro Aktie ausgeübt werden kann. Das Unternehmen zahlte 69.324,97 US-Dollar an Barprovisionen und gab 167.915 Broker-Optionen aus. Die Erlöse aus dem Verkauf der Einheiten werden das Betriebskapital unterstützen, während die Flow-Through-Mittel für kanadische Explorationsausgaben verwendet werden, die als flow-through förderfähige Ausgaben für kritische Mineralien gelten.
- None.
- Insider participation indicates related party transaction requiring regulatory compliance
- Dilution of existing shareholders through issuance of new shares and warrants
- 4-month hold period restricts immediate trading of new securities
TORONTO, ON / ACCESS Newswire / July 28, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling" or the "Company") is pleased to announce that, further to its press releases of July 10, 2025 and July 16, 2025, the Company has closed its non-brokered private placement through the issuance of 3,193,445 common shares in the capital of the Company issued on a flow-through basis (each, a "FT Share") at a price of
Each hard-dollar Unit is comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of
In connection with the closing of the Offering, the Company paid certain eligible persons a cash commission in the amount of
The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as an insider of the Company subscribed for 119 048 FT Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by insiders does not exceed
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. 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. The net proceeds from the sale of the Units will be used for general working capital purposes and the gross proceeds of the Offering received from the sale of the FT Shares will be used to incur "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada).
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.
About Sterling Metals
Sterling (TSXV: SAG and OTCQB: SAGGF) is a mineral exploration company focused on large scale and high-grade Canadian exploration opportunities. The Company is advancing the 25,000-hectare Copper Road Project in Ontario which has past production, and multiple breccia and porphyry targets strategically located near robust infrastructure and the 29,000-hectare Adeline Project in Labrador which covers an entire sediment-hosted copper belt with significant silver credits. Both opportunities have demonstrated potential for important new copper discoveries, underscoring Sterling's commitment to pioneering exploration in mineral rich Canada.
For more information, please contact:
Sterling Metals Corp.
Mathew Wilson, CEO and Director
Tel: (416) 643-3887
Email: info@sterlingmetals.ca
Website: www.sterlingmetals.ca
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.
SOURCE: Sterling Metals Corp.
View the original press release on ACCESS Newswire
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