Sterling Metals Corp. Announces $12.5M Private Placement Offering

Sterling Metals Corp. has unveiled a non-brokered private placement targeting gross proceeds up to $12.5 million. This includes three types of securities: flow-through shares at $0.66 each, units at $0.60, and charity flow-through units at $0.93. Each unit and charity unit bundles one common share with a warrant that allows purchase of another share at $1.20 within two years.

The funds from units will support general working capital, while flow-through options will fund exploration at the Soo Copper Project in Ontario. A hold period of four months plus a day applies, alongside a 12-month lock-up.

Some company insiders will participate, classified as a related party transaction. The offering awaits necessary regulatory approvals. The placement is not open to U.S. investors due to legal constraints.