Sierra Iron Ore Announces Private Placement
NEWS RELEASE
February 25, 2014 Symbol:-TSXV.NAA Symbol:-OTC- SIOCF SIERRA IRON ORE ANNOUNCES PRIVATE PLACEMENT
VANCOUVER, BC – SIERRA IRON ORE CORPORATION (the "Company") is pleased to announce that it has arranged a non-brokered private placement to qualified investors. The Private Placement financing will consist of 257,500 units (“Units”) for total proceeds of $103,000.
Each Unit will be priced at $0.40, and will consist of one common share and one nontransferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.55 per share following 24 months from the closing date.
The proceeds of the private placement will provide general working capital.
All securities issued are subject to a hold period of four months from closing.
This private placement remains subject to regulatory approval.
About Sierra Iron Ore
Sierra Iron Ore is a growth focused mineral exploration company creating value through the exploration and development of the El Creston property located in the Sinaloa State of Mexico. The company has a continual fieldwork program at the El Creston Property that is comprised of drilling, mapping, sampling and planning for further property development. Roads are being built and upgraded as well as equipment is being purchased in preparation for further developing the known iron ore mineral zones identified by recent exploration work.
On behalf of The Board of Directors of Sierra Iron Ore Corporation.
Wally Boguski, President
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Sierra Iron Ore Corp. which may cause actual results, performance or achievements of Sierra Iron Ore Corporation to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither 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 press release, which has been prepared by management.
CANADA USA 13236 Cliffstone Court #2 – 701 West Deer Valley Road Lake Country BC V4V 2R1 Phoenix, AZ 85027 Tel: 250-766-1517 Tel: 623-251-4443 Fax: 250-766-1839 Fax: 623-251-4878
[email protected] www.sierrairon.com