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Sierra Iron Ore arranges $240,000 private placement

Mar 31, 2015

SIERRA ANNOUNCES PRIVATE PLACEMENT

Sierra Iron Ore Corp. has arranged a non-brokered private placement to qualified investors. The private placement financing will consist of up to one million units for gross proceeds of $240,000.

Each unit will be priced at 24 cents, and will consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one additional common share at a price of 24 cents per share, with an expiry date which is 24 months from closing.

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

All securities issued will be subject to a four-month hold period from closing.

Finder’s fees may be paid in cash or shares to qualified parties within the parameters allowed by the TSX Venture Exchange.

This private placement remains subject to regulatory approval.

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