Sterling Resources cancels $45-million offering

2012-11-15 15:09 ET - News Release

 

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Mr. Mike Azancot reports

STERLING RESOURCES ANNOUNCES TERMINATION OF COMMON SHARE OFFERING

Sterling Resources Ltd. has determined not to proceed with its previously announced marketed offering of common shares in the capital of the company. The company was targeting to raise up to $45-million in aggregate gross proceeds pursuant to the offering. While a number of existing and potential shareholders have expressed strong support, the company has been unable to raise sufficient funds on terms which the board considers to be acceptable.