Sterling Metals announces $14M gross proceeds from private placement

* Sterling Metals (OTCQB:SAGGF [https://seekingalpha.com/symbol/SAGGF]) announced [https://seekingalpha.com/pr/20300188-sterling-metals-announces-upsize-of-private-placement-of-units-and-flow-through-units]on Monday that the company has increased the size of its non-brokered private placement to up to 5.24M units at a price of $1.50 per unit.
* The company has also included 2.67 charity flow-through units at a price of $2.30 per charity FT unit for gross proceeds of up to $14M from the offering.
* Each unit shall be comprised of one common share and one-half of one common share purchase warrant of the company.
* Each warrant shall entitle the holder to acquire one common share at a price of $3.00 per share for a period of 2 years from the closing of the offering.
* Each charity FT unit shall include one common share issued on a flow-through basis and one warrant, for which the terms are the same as the warrants comprising the units.
* The gross proceeds from the sale of the charity FT units will be used by the company to incur "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures".

MORE ON STERLING METALS CORP.

* Seeking Alpha’s Quant Rating on Sterling Metals Corp. [https://seekingalpha.com/symbol/SAG:CA/ratings/quant-ratings]
* Financial information for Sterling Metals Corp. [https://seekingalpha.com/symbol/SAG:CA/income-statement]