Each Unit will be priced at $0.24, and will consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share at a price of $0.24 per share, with an expiry date which is 24 months from closing.
NEWS RELEASE
March 31, 2015 Symbol:-TSXV:NAA OTCQX:SIOCF SIERRA 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 up to 1,000,000 units (“Units”) for gross proceeds of $240,000.
Each Unit will be priced at $0.24, and will consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share at a price of $0.24 per share, with an expiry date which is 24 months from closing.
The proceeds of this private placement will be used to advance exploration activities at the Company’s Emerald Lake property and for general working capital.
All securities issued will be subject to a four-month hold period from closing.
Finder’s fee may be paid in cash or shares to qualified parties within the parameters allowed by the TSX-V.
This private placement remain 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 its British Columbia and Ontario mineral properties. The company has shut down all operations in Mexico and is liquating or moving all assets to Canada.
On behalf of The Board of Directors of Sierra Iron Ore Corporation.
Wally Boguski, President/CEO
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 #1021 – 100 East Street Lake Country BC V4V 2R1 Carefree, AZ 85377 Tel: 250-766-1517 Tel: 480-575-1220 Fax: 250-766-1839 Fax: 480-488-3492 [email protected] www.sierrairon.com