Sterling Metals Announces Upsize to Private Placement of Units
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
STERLING METALS ANNOUNCES UPSIZE TO PRIVATE PLACEMENT OF UNITS
April 21, 2022 – Toronto, Ontario – Sterling Metals Corp. (TSXV: SAG, OTCQB: SAGGF )
(the “Company”) is pleased to announce that further to its press release of April 18, 2022, the Company
has increased the size of its non-brokered private placement to up to 15,000,000 units (each, a “Unit”) at a
price of $0.20 per Unit for aggregate gross proceeds of up to $3,000,000 (the “Offering”). Each Unit shall
be comprised of one common share ( each, a “Common Share”) in the capital of the Company and one
Common Share purchase warrant ( each, a “ Warrant”) of the Company. Each Warrant shall entitle the
holder thereof to acquire one Common Share at a price of $0.40 per Common Share for a period of two (2)
years from the closing of the Offering.
Mathew Wilson, CEO of the Company, commented: “We are thrilled with the reaction to ou r investment
offering. This upsize reflects the broad interest while maintaining an awareness of dilution of future share
appreciation. This financing will position the Company for an aggressive 2022 exploration campaign as the
Company follows up on its Heimdall Zone discovery”.
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 Un its will be used for general working capital purposes. 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.
For more information, please contact:
Sterling Metals Corp.
Mathew Wilson, President & CEO
Tel: (416) 643-7630
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.