Sterling Metals Expands Private Placement Offering

Sterling Metals Corp. has announced an increase in its private placement offering. Initially detailed in a previous release, the company will now issue up to 3,193,445 flow-through shares priced at $0.42 each, alongside 3,310,723 units priced at $0.35, generating up to $2.5 million in gross proceeds.

Each unit includes one common share and half a warrant, allowing the purchase of a common share at $0.50 within two years. A hold period of four months plus one day applies to these securities.

Proceeds from the unit sales will support general working capital, while funds from flow-through shares will be directed towards qualified Canadian exploration expenses. The offering is contingent on obtaining necessary regulatory approvals, including from the TSX Venture Exchange.