Mr. Mike Azancot reports
STERLING RESOURCES ANNOUNCES TERMINATION OF COMMON SHARE OFFERING
Sterling Resources Ltd. has determined not to proceed with its previously
announced marketed offering of common shares in the
capital of the company. The company was
targeting to raise up to $45-million in aggregate gross proceeds
pursuant to the offering. While a number of existing and potential
shareholders have expressed strong support, the company has been unable
to raise sufficient funds on terms which the board considers to be
acceptable.
Sterling will therefore pursue alternative means of ensuring that the
company is appropriately financed.
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