Sterling Metals Announces Closing of Private Placement to Accelerate Advancement of the Soo Copper Project
Sterling Metals Announces Closing of Private Placement to
Accelerate Advancement of the Soo Copper Project
TORONTO, ON / ACCESS Newswire / November 26, 2025 / Sterling Metals Corp.
(TSXV:SAG)(OTCQB:SAGGF) ("Sterling" or the "Company") is pleased to announce that,
further to its press releases of November 5, 2025 and November 10, 2025, the Company
has closed its non-brokered private placement through the issuance of 5,244,517 units
(each, a "Unit") at a price of $1.50 per Unit and 2,666,662 charity flow-through units (each,
a "Charity FT Unit") at a price $2.30 per Charity FT Unit for aggregate gross proceeds of
$14,000,098.10 (the "Offering").
Mathew Wilson, CEO and Director of Sterling, commented, "On behalf of Sterling, I would
like to thank all participants for their support in this financing. The quality of new
shareholders who have joined our register is a testament to both the quality of the project
and the team charged with advancing it. With approximately $15 million in the treasury, we
are in a strong position to rapidly advance the Soo Copper Project. The $6.2 million raised
through charity flow-through represents the minimum we anticipate spending on the
project next year, the majority of which will be directed toward drilling.
We continue to benefit from first-in-class cost advantages due to exceptional access and
infrastructure which has allowed us to rapidly advance this project. This year's summer-fall
program, which was significantly expanded following the discovery, included 29 holes
totaling approximately 11,000 metres which brings our total drilling for the year to over
13,000 metres. All holes are currently in the lab or being prepped, and we expect to begin
receiving and releasing assays in the coming weeks. We anticipate a short break in drilling
until early February while we incorporate this incoming data and develop a winter program.
We are eager to see the results of this program and begin piecing together what we believe
is one of the most significant new copper discoveries in Canada. "
Each Unit shall be 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 $3.00 per Common Share for a period of two (2)
years from the closing of the Offering. Each Charity FT Unit shall be comprised of one
Common Share issued on a flow-through basis (each, a "Charity FT Share") and one-half
of one Warrant, having the same terms as the Warrants comprising the Units.
In connection with the closing of the Offering, the Company paid certain eligible persons a
cash commission in the amount of $58,199.88.
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 insiders of the Company subscribed for an
aggregate of 186,667 Units 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 25% of the market capitalization of the Company in accordance with MI
61-101. The Company did not file a material change report in respect of the related party
transaction at least 21 days before the closing of the of the Offering, which the Company
deems reasonable in the circumstances in order to complete the Offering in an expeditious
manner.
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 net proceeds from the sale of the Units will be used for general working
capital purposes. The gross proceeds from the sale of the Charity FT Units will be used by
the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-
through critical mineral mining expenditures" as such terms are defined in the Income Tax
Act (Canada). 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.
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 Metals is a mineral exploration company focused on large scale and high-grade
Canadian exploration opportunities. The Company is advancing the 25,000-hectare Soo
Copper 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.
Sterling Metals acknowledges that its exploration activities within the Soo Copper project
are conducted on the traditional lands of the Batchewana, Garden River, and Michipicoten
First Nations of the North Shore of Lake Superior. We recognize and respect the
longstanding and diverse relationships Indigenous Peoples have with the land and are
committed to engaging in a manner that is respectful, transparent, and inclusive.
For more information, please contact:
Sterling Metals Corp.
Mathew Wilson, CEO and Director
Tel: (416) 643-3887
Email: [email protected]
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.