Sterling Metals Corp. Completes $2.5 Million Private Placement

Sterling Metals Corp. has announced the successful closing of its non-brokered private placement, raising $2.5 million. The offering comprised 3,193,445 flow-through shares at $0.42 each and 3,310,723 units at $0.35 per unit. Each unit included one common share and a warrant allowing the purchase of an additional share at $0.50 for two years. The placement included a related party transaction under TSX policies, with an insider subscribing to 119,048 shares. All securities are subject to a four-month hold period. Funds will support general working capital and Canadian exploration expenses.

Sterling paid commissions totaling $69,324.97 and issued 167,915 broker warrants. The transaction relies on exemptions from valuation and minority approval requirements, as the company's market capitalization threshold was not exceeded. The private placement's completion awaits regulatory approvals, including from the TSX Venture Exchange.