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Sterling Resources files final Rights Offering Prospectus
Sterling Resources files final Rights Offering Prospectus Sterling Resources files...
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[{"type":"text","content":"\n\n\n\nSterling Resources files final Rights Offering Prospectus\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nSterling Resources files final Rights Offering Prospectus\nCanada NewsWire\nCALGARY, April 20, 2016\n\n\n\nCALGARY, April 20, 2016 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) (\"Sterling\" or the \"Company\") announces today that it has obtained a receipt for its final short form prospectus (the \"Prospectus\") filed with the securities regulatory authorities in all of the provinces of Canada other than Quebec (the \"Qualifying Jurisdictions\") in respect of its previously announced rights offering to raise gross proceeds of up to $219,845,339 million. \n\nEach holder of record of common shares in the capital of the Corporation (\"Common Shares\") as of the close of business (Eastern Time) on April 27, 2016 (the \"Record Date\") who is resident in a Qualifying Jurisdiction (each, a \"Qualifying Holder\") will receive one right (a \"Right\") for each Common Share held. Each Right will entitle the holder thereof to subscribe for 32.333333333 Common Shares at a subscription price of $0.015398 per Common Share (the \"Subscription Price\") to a maximum of 14,277,525,577 Common Shares (the \"Rights Offering\"). There is no minimum amount of funds that must be raised under the Rights Offering. This means that Sterling could complete the Rights Offering after raising only a small portion of the maximum possible Rights Offering proceeds.\n\nIt is a requirement under the rules of the TSX Venture Exchange (the \"TSXV\") that an advance notification period of five business days must pass before the record date for the Rights Offering, which will be April 27, 2016 (the \"Record Date\"). Sterling currently expects the Prospectus relating to the Rights Offering to be mailed to shareholders as of the Record Date who are resident in Qualifying Jurisdictions on April 28, 2016 and the closing of the Rights Offering to occur on or about May 27, 2016. The Rights may be exercised commencing on April 29, 2016 and will expire at 5:00 p.m. (Eastern ...