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Sterling Resources Provides Reminder of Expiry Date of Rights Offering
Sterling Resources Provides Reminder of Expiry Date of Rights Offering Sterling Re...
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[{"type":"text","content":"\n\n\n\nSterling Resources Provides Reminder of Expiry Date of Rights Offering\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\nSterling Resources Provides Reminder of Expiry Date of Rights Offering\nCanada NewsWire\nCALGARY, May 16, 2016\n\n\n\nCALGARY, May 16, 2016 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) (\"Sterling\" or the \"Company\") is providing a reminder that the rights issued by Sterling (the \"Rights\") pursuant to a rights offering announced on April 20, 2016 (the \"Rights Offering\") expire at not later than 5:00 p.m. (Eastern time)(the \"Expiry Time\") on May 19, 2016 (the \"Expiry Date\").  Rights which are not exercised by the Expiry Time on the Expiry Date will be void and have no value. The Rights are listed under the symbol SLG.RT.  Trading of the Rights is expected to continue until noon (Eastern time) on May 19, 2016, at which time the Rights will be halted. \n\nEach Right entitles the holder thereof to subscribe for 32.333333333 Common Shares at a subscription price of $0.015398 per common share (\"Common Share\") in the capital of Sterling (the \"Subscription Price\").  Holders of Rights wishing to exercise their Rights must forward a completed Rights certificate, together with payment in full of the Subscription Price for each Common Share subscribed for to Computershare Investor Services Inc.  Shareholders who hold their Common Shares in a brokerage account or with a nominee should contact such broker or nominee in order to exercise their Rights.\n\nIf a holder elects not to exercise the Rights issued to that holder, or elects to sell or transfer those Rights, the holder's current percentage ownership in Sterling will be very significantly diluted. To the extent that not all Rights issued have been exercised, there will be a subsequent issue by Sterling of the Exchange Shares (as defined in and qualified by the final short form prospectus of Sterling dated April 20, 2016 (the \"Prospectus\")) to the holders of Sterling Resources (UK) Ltd.'s existing senior bonds (the \"Bondholders\").  It is anticipated, for inst...