Business
Sterling Resources Ltd. and PetroTal Ltd. Announce SEDAR Filing of Filing Statement
Sterling Resources Ltd. and PetroTal Ltd. Announce SEDAR Filing of Filing Statement ...
About this update from Petrotal Corp.
[{"type":"text","content":"\n\n\n\nSterling Resources Ltd. and PetroTal Ltd. Announce SEDAR Filing of Filing Statement\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 1, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\n\nCALGARY, Dec. 1, 2017 /CNW/ - Sterling Resources Ltd. (\"Sterling\" or the \"Corporation\") (TSXV: SLG) and PetroTal Ltd. (\"PetroTal\") are pleased to announce that a filing statement (the \"Filing Statement\") prepared in accordance with the requirements of the TSX Venture Exchange (the \"TSXV\") in connection with the previously announced business combination of Sterling and PetroTal pursuant to a plan of arrangement (the \"Proposed Transaction\") has been filed under Sterling's profile on SEDAR and is available at www.sedar.com. \n\nFor additional information about the Proposed Transaction, please see the joint press release of Sterling and PetroTal dated November 9, 2017, which is available under Sterling's profile on SEDAR at www.sedar.com. \n\nThe Proposed Transaction is currently anticipated to close on or about December 11, 2017. Closing of the Proposed Transaction is subject to a number of conditions including, but not limited to, the completion of a brokered private placement offering of subscription receipts for aggregate gross proceeds of a minimum of USD$25 million (the \"Financing\") anticipated to close on December 8, 2017 and closing conditions customary to a transaction of the nature of the Proposed Transaction, including those described in the Filing Statement. \n\nPetroTal is pleased to announce that it is anticipated that the aggregate gross proceeds of the Financing will be approximately USD$34 million. The Financing is being co-led by Eight Capital and Pareto Securities AS on behalf of a syndicate of investment dealers that includes PillarFour Securities Inc.  \n\nEight Capital is acting as financial advisor to PetroTal and PillarFour...