Sterling Metals Announces Fully Allocated Private Placement

Sterling Metals Corp. has revealed a non-brokered private placement involving up to 3,088,888 units at $1.50 each and up to 2,333,334 charity flow-through units at $2.30 each. This placement aims to raise an aggregate of $10,000,000.20. Each unit consists of one common share and half a warrant, entitling the holder to purchase a share at $3.00 within two years. Charity flow-through units will also qualify as flow-through shares under Canadian tax law.

Sterling Metals will utilize proceeds from unit sales for general working capital, while funds from charity flow-through units will support eligible Canadian exploration expenses. The issuance is contingent on necessary regulatory approvals. Additionally, insiders are expected to partake in this offering.

The securities will be non-transferable for four months post-issuance and will adhere to relevant legislation resale rules. The offer is not extended to U.S. markets due to registration constraints under the U.S. Securities Act.