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Sierra Iron Ore closes $160,000 private placement

Dec 23, 2015

SIERRA CLOSES PRIVATE PLACEMENT

Sierra Iron Ore Corp. has closed the non-brokered private placement previously announced on Dec. 8, 2015. The company has issued 400,000 units for gross proceeds of $160,000. Each unit consists of one common share issued at 40 cents per share and one-half common share purchase warrant. Each warrant may be exercised by the holder to purchase an additional common share at a price of 55 cents for 24 months from closing.

The proceeds of this private placement will be used to advance exploration activities at the Emerald Lake property and for general working capital.

No finders’ fees were paid.

All securities issued will be subject to a four-month hold period expiring April 23, 2016.

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