Sterling Metals Corp. announced a non-brokered private placement of up to 6,700,000 charity flow-through units at a price of CAD 0.225 per unit, up to 6,000,000 flow-through units at a price of CAD 0.17 per unit and up to 16,700,000 hard dollar units at a price of CAD 0.15 per unit for the aggregate gross proceeds of CAD 5,032,500 on March 29, 2023. Each Charity FT Unit is comprised of one flow-through common share and one transferable non-flow-through common share purchase warrant.

Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.25 per common share for a period of two years from the closing of the offering. The agent shall have the option to cover over-allotments, which will allow the Agent to offer up to an additional 15% of the aggregate Offering, on the same terms. The Agent?s Option may be exercised in whole or in part at any time prior to the Closing Date of the Offering, in any combination of Charity FT Units, FT Units and HD Units. The transaction is expected to close on April 17, 2023.

The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.