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Sterling Metals Announces Fully Allocated Private Placement Of Units And Charity Flow Through Units
TORONTO, ON / ACCESS Newswire / November 5, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAG...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Sterling Metals Announces Fully Allocated Private Placement Of Units And Charity Flow Through UnitsTORONTO, ON / ACCESS Newswire / November 5, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) (\"Sterling\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 3,088,888 units (each, a \"Unit\") at a price of $1.50 per Unit and up to 2,333,334 charity flow-through units (each, a \"Charity FT Unit\") at a price $2.30 per Charity FT Unit for aggregate gross proceeds of up to $10,000,000.20(the \"Offering\").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 Share for a period of two (2) years from the closing of the Offering. Each Charity FT Unit shall be comprised of one Common Share issued on a flow-through basis (each, a \"Charity FT Share\") and one Warrant, having the same terms as the Warrants comprising the Units. The Charity FT Units will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada).The Company may pay certain eligible persons a cash commission equal to 6% of the gross proceeds of the Offering.All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The net proceeds from the sale of the Units will be used for general working capital purposes. The gross proceeds from the sale of the Charity FT Units will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through critical mineral mining expenditures\" as such terms are defined in the Income Tax Act (Canada). The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.It is anticipated that certain insiders of the Company will participate in the Offering.This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities...