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Sterling Metals Announces $5m Brokered Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - March 29, 2023) - Sterling Metals Corp. (TSXV: SAG) (OTCQB: ...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Sterling Metals Announces $5m Brokered Private Placement FinancingToronto, Ontario--(Newsfile Corp. - March 29, 2023) - Sterling Metals Corp. (TSXV: SAG) (OTCQB: SAGGF) (\"Sterling Metals\" or the \"Company\") is pleased to announce that it has entered into an agreement with PI Financial Corp. (\"PI Financial\" or the \"Agent\") as sole agent and bookrunner, in connection with a marketed best efforts private placement of up to 6,700,000 charity flow-through units (the \"Charity FT Units\"), at C$0.225 per Charity FT Unit, up to 6,000,000 flow-through units (the \"FT Units\"), at C$0.17 per FT Unit, and up to 16,700,000 hard dollar units (the \"HD Units\"), at C$0.15 per HD Unit of the Company to raise aggregate gross proceeds of up to C$5,032,500 (the \"Offering\").The Charity FT Units and FT Units will be offered by way of a marketed \"best efforts\" private placement offering to \"accredited investors\" or pursuant to other available prospectus exemptions under National Instrument 45-106 Prospectus Exemptions in all provinces of Canada, except the Province of Québec, and such other jurisdictions as may be agreed to by the Company and the Agent, subject to the receipt of necessary regulatory approvals. The HD Units will be offered by way of a best efforts private placement pursuant to the Listed Issuer Financing Exemption under National Instrument 45-106 - Prospectus Exemption in all provinces of Canada, except the Province of Québec, and such other jurisdictions as may be agreed to by the Company and the Agent, subject to the receipt of necessary regulatory approvals.Each Charity FT Unit shall consist of one charity flow-through common share (a \"Charity FT Share\") and one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a \"Warrant\"). Each FT Unit shall consist of one flow-through common share (a \"FT Share\") and one transferable non-flow-through common share purchase Warrant. Each HD Unit shall consist of one common share (a \"HD Share\") and one transferable common share purchase Warrant. Each Warrant shall be exercisable into one additional non-flow-through common share (\"Warrant Share\") of the Company for 24 months from the Closing Date at an exercise price of C$0.25.In addition, the Agent shall have the option to cover over-allotments (the \"Agent'...