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Sterling Metals Announces Closing of Private Placement of Units and Flow-through Shares
TORONTO, ON / ACCESS Newswire / July 28, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF)...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Sterling Metals Announces Closing of Private Placement of Units and Flow-through Shares TORONTO, ON / ACCESS Newswire / July 28, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) (\"Sterling\" or the \"Company\") is pleased to announce that, further to its press releases of July 10, 2025 and July 16, 2025, the Company has closed its non-brokered private placement through the issuance of 3,193,445 common shares in the capital of the Company issued on a flow-through basis (each, a \"FT Share\") at a price of $0.42 per FT Share and 3,310,723 units (each, a \"Unit\") of the Company issued on a hard-dollar basis at a price of $0.35 per Unit for aggregate gross proceeds of up to $2,500,000 (the \"Offering\").Each hard-dollar Unit is comprised of one common share (each, a \"Common Share\") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of two (2) years from the closing of the Offering.In connection with the closing of the Offering, the Company paid certain eligible persons a cash commission in the amount of $69,324.97 and issued 167,915 broker warrants (each, a \"Broker Warrant\") equal to 6% of the number of securities issued pursuant to the Offering. Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of two (2) years from the closing of the Offering.The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") as an insider of the Company subscribed for 119 048 FT Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 day...