SIERRA IRON ORE SECURES DTC ELIGIBILITY

Nov 19, 2013

Sierra Iron Ore Corp. has secured DTC eligibility by the Depository Trust Company for its shares on the OTC effective Nov. 18, 2013.

The Depository Trust Company is a subsidiary of the Depository Trust & Clearing Corp. (DTCC), and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered DTC eligible. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.

Wally Boguski, President and CEO, stated, “We are pleased to announce that we have obtained DTC eligibility, effective November 18, 2013. Electronic trading is the standard in today’s financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common stock. We would like to thank our transfer agent, Vstock Transfer, for their guidance through this process. We will continue to update our shareholders on our progress.”

With reference to the Company’s press release dated September 9, 2013, the Company wishes to advise that it will request shareholder approval at its next Annual General Meeting to re-price 244,903 stock options previously granted on June 29, 2011. These options remain exercisable under the Company’s Stock Option Plan. The Company also wishes to advise with reference to the September 18, 2013, press release that 127,500 options have been granted to directors, officers and consultants at a price of $0.43, not $0.40 as previously disclosed.

http://www.sierrairon.com/news.html