Business
Sierra Iron Ore Corp Raises $1,343,080 in First Tranche of Private Placement
Symbol:-TSXV:NAA Symbol:-OTCQX:SIOCF VANCOUVER , June 11, 2013 /CNW/ - Sierra...
About this update from Enduro Metals Corporation
[{"type":"text","content":"\n\n\nSymbol:-TSXV:NAASymbol:-OTCQX:SIOCF\n\n\nVANCOUVER, June 11, 2013 /CNW/ - Sierra Iron Ore Corporation (the \"Company\") is pleased to announce that it has received subscription agreements\n totaling 3,357,700 units of the non-brokered private placement offered\n to qualified investors for gross proceeds to the company of $1,343,080.\n\n\nSubject to TSX approval, the total of the 1st tranche of the\n non-brokered private placement will result in the issuance of 3,357,700\n million units at a price of $0.40 cents per unit; each unit consists of\n one common share and one-half of one share purchase warrant. A full\n warrant entitles the holder to acquire one additional share at a price\n of $0.55 cents for 24 months from closing. All securities issued are\n subject to a hold period of four months from closing. Finders' fees\n will be paid to qualified parties.\n\n\nThe proceeds of the Private Placement will provide working capital and\n continued funding of the company's exploration/development field work\n program which would include purchasing equipment for a preliminary\n pilot testing plant operation for the purpose of testing zones at the\n El Creston iron ore property.\n\n\nFor more information contact Corey Safran, Investor Relations, at\n 609-228-0595, or by email at [email protected].\n\n\nAbout Sierra Iron Ore \n\n\nSierra Iron Ore is a growth focused mineral exploration company creating\n value through the exploration and development of the El Creston\n property located in the Sinaloa State of Mexico. The company has a\n continual fieldwork program at the El Creston Property that is\n comprised of drilling, mapping, sampling and planning for further\n property development. Roads have been built and upgraded as well as\n equipment has been mobilized for further developing the known magnetite\n zones identified by recent exploration work.\n\n\nSierra Iron Ore also has 100% ownership of the Tom Cat property which is\n located 200 kilometres east-northeast of Vancouver within the historic\n Aspen Grove copper camp. The company is currently conducting an\n exploration program of geological mapping and sampling program as a\n prelude to a planned diamond drill program.\n\n\nOn behalf of The Board of Directors of Sierra Iron Ore Corporation.\n\n\nPaul Lee, Director\n\n\nNeither TSX Venture Exchange nor its Regulation S...