Sierra Iron Ore arranges $103,000 private placement
SIERRA IRON ORE ANNOUNCES PRIVATE PLACEMENT
Sierra Iron Ore Corp. has arranged a non-brokered private placement to qualified investors. The private placement financing will consist of 257,500 units for total proceeds of $103,000.
Each unit will be priced at 40 cents, and will consist of one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 55 cents per share following 24 months from the closing date.
The proceeds of the private placement will provide general working capital.
All securities issued are subject to a hold period of four months from closing.
This private placement remains subject to regulatory approval.
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