Sterling Resources in discussions regarding potential reverse take-over of the Company
Sterling Resources Ltd. announces that it is engaged in preliminary discussions regarding a potential transaction with a third party involving a potential reverse take‐over of the Company. No agreement has been reached and there is no assurance that these discussions will continue, that any transaction will be agreed upon or the terms and conditions of any such transaction.
As a result, and until the conclusion, of such discussions, the board of directors of the Company has determined to delay the declaration and payment of the previously proposed second distribution which was originally anticipated to be made on or prior to September 30, 2017.
Management of the Company anticipates that discussions in relation to the potential transaction will be concluded by the end of October, at which time a public announcement will be made either in respect of the entrance into the transaction or in respect of the declaration of the second distribution and the associated record and distribution date thereof. Until such time, the Company will not make any further public announcement in relation to this matter.
Sterling is a Canadian‐listed company whose registered office is in Calgary, Alberta. The common shares are listed and posted for trading on the Toronto Stock Exchange Venture (TSX‐V) exchange under the symbol.