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Meridian Capital International Fund Announces Acquisition of Common Shares of Sterling Resources Ltd.
Meridian Capital International Fund Announces Acquisition of Common Shares of Sterling Res...
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[{"type":"text","content":"\n\n\n\nMeridian Capital International Fund Announces Acquisition of Common Shares of Sterling Resources Ltd.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHONG KONG, Feb. 22, 2017\n\n\n\nHONG KONG, Feb. 22, 2017 /CNW/ - Meridian Capital International Fund (\"Meridian\") announced today that it had acquired 8,831,114 common shares (\"Acquired Shares\") of Sterling Resources Ltd. (TSXV: SLG) (\"Sterling\") on January 20, 2017. The Acquired Shares were acquired at a price of $0.55 per common share, and having an aggregate acquisition price of $4,857,112.70.\n\nYF Finance Limited and, together with Meridian, are considered to be acting jointly and in concert. Prior to acquiring the Acquired Shares, Meridian held 51,454,247 common shares of Sterling, representing approximately 34.9% of Sterling's outstanding common shares and YF Finance Limited held 381,050 common shares of Sterling or approximately 0.3% of Sterling's outstanding common shares. Together with the common shares held by YF Finance Limited, Meridian held approximately 35% of the outstanding common shares.\n\nFollowing the acquisition of the Acquired Shares, Meridian owns 60,285,361 Sterling common shares. Together, YF Finance Limited and Meridian have ownership of, or control over 60,666,411 Sterling common shares, representing approximately 41.2% of Sterling's 147,190,985 outstanding common shares. \n\nThe Acquired Shares will be held by Meridian for investment purposes.  Depending upon the circumstances, Meridian may, from time to time, acquire additional securities or related financial instruments of Sterling or dispose of all or a portion of the securities or related financial instruments of Sterling previously acquired.\n\nThis news release is being issued pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.\n\nAn early warning report with respect to Meridian's acquisition of the Acquired Shares, which is incorporated by reference herein, will be electronically filed with the securities regulatory aut...