SIERRA IRON ORE CLOSES 1ST TRANCHE OF PRIVATE PLACEMENT
Sierra Iron Ore Corp. has closed the first tranche of the previously announced non-brokered private placement and has issued 3,357,700 units at a price of 40 cents per unit, for gross proceeds of $1,343,080. Each unit consists of one common share and one-half share purchase warrant. Each full warrant will be exercisable to purchase one additional common share of the company for 24 months from closing, at a price of 55 cents per share. Finders’ fees of $57,846.40 will be paid in cash to...
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