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Sterling Metals Announces Closing of Private Placement to Accelerate Advancement of the Soo Copper Project
TORONTO, ON / ACCESS Newswire / November 26, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SA...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Sterling Metals Announces Closing of Private Placement to Accelerate Advancement of the Soo Copper ProjectTORONTO, ON / ACCESS Newswire / November 26, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) (\"Sterling\" or the \"Company\") is pleased to announce that, further to its press releases of November 5, 2025 and November 10, 2025, the Company has closed its non-brokered private placement through the issuance of 5,244,517 units (each, a \"Unit\") at a price of $1.50 per Unit and 2,666,662 charity flow-through units (each, a \"Charity FT Unit\") at a price $2.30 per Charity FT Unit for aggregate gross proceeds of $14,000,098.10 (the \"Offering\").Mathew Wilson, CEO and Director of Sterling, commented, \"On behalf of Sterling, I would like to thank all participants for their support in this financing. The quality of new shareholders who have joined our register is a testament to both the quality of the project and the team charged with advancing it. With approximately $15 million in the treasury, we are in a strong position to rapidly advance the Soo Copper Project. The $6.2 million raised through charity flow-through represents the minimum we anticipate spending on the project next year, the majority of which will be directed toward drilling.We continue to benefit from first-in-class cost advantages due to exceptional access and infrastructure which has allowed us to rapidly advance this project. This year's summer-fall program, which was significantly expanded following the discovery, included 29 holes totaling approximately 11,000 metres which brings our total drilling for the year to over 13,000 metres. All holes are currently in the lab or being prepped, and we expect to begin receiving and releasing assays in the coming weeks. We anticipate a short break in drilling until early February while we incorporate this incoming data and develop a winter program. We are eager to see the results of this program and begin piecing together what we believe is one of the most significant new copper discoveries in Canada.\"Each Unit shall be 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 $3.00 per Common Sh...