NEWS RELEASE
June 24, 2014 Symbol:-TSXV.NAA Symbol:-OTC- SIOCF SIERRA ANNOUNCES RESULTS OF AGM AND CLOSES PRIVATE PLACEMENT VANCOUVER, BC – SIERRA IRON ORE CORPORATION (the "Company") is pleased to announce the results of the annual general m eeting of shareholders (the “Meeting”) that was held on June 12, 2014.
AGM Results
At the Meeting, all resolutions were accepted by Company shareholders. Messrs. Wally Boguski, Laurence Sookochoff, Roger Frost and Alphonse Ruggiero were elected as directors. Davidson & Company LLP, Chartered Accountants were re-appointed as the auditor, the Company’s 10% stock option plan was renewed, and a shareholder rights plan was approved by shareholders.
Following the Meeting Mr. Boguski was reappointed by the boar d as Chief Executive Officer and President; Mr. Ruggiero was reappointed as the Chief Financial Officer and Ms. Lisa Szutiak was reappointed as Corporate Secretary. The Company’s Audit Committee consists of Messrs. Sookochoff, Ruggiero and Frost.
The Company also advises that it has closed the previously announced non-brokered private placement. The Company has issued 1,666,668 units (“Units”) for net proceeds of $250,000. Each Unit consists of one common share, issued at $0.15 per share, and one common share purchase warrant. Each common share purchase warrant may be exercised by the holder to purchase an additional common share at a price of $0.20 for 24-months from closing.
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
www.sierrairon.com
The net proceeds from this private placement will used for general working capital.
Finder’s fees of $7,000 were paid to qualified parties.
All securities issued have a hold period expiring October 21, 2014.
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 differ ent 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
www.sierrairon.com