Sterling Metals Announces Mark Goodman as Chairman and Provides Corporate Update
Sterling Metals has appointed Mark Goodman as Chairman, following a recent transaction with Copper Road Resources Inc. Goodman, with over 25 years of mining experience, previously served as President of Dundee He replaces Richard Patricio, who will remain as an advisor. The Copper Road Project is expected to be a significant value driver for Sterling, with well-defined targets and regional potential. The company distributed 86,249,546 Consideration Shares to Copper Road Resources shareholders, with further updates on the Copper Road Project anticipated soon.
- Appointment of experienced mining executive Mark Goodman as Chairman.
- Successful acquisition of the Copper Road Project with substantial regional potential.
- Distribution of 86,249,546 Consideration Shares to Copper Road Resources shareholders.
- Strategic implementation of Goodman’s expertise to advance the Copper Road Project.
- Potential shareholder dilution due to the distribution of 86,249,546 Consideration Shares.
TORONTO, ON / ACCESSWIRE / May 28, 2024 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling" or the "Company") is pleased to announce the appointment of Mr. Mark Goodman as Chairman of the board of directors, effectively immediately. Mr. Goodman joins the Company as part of the recently completed transaction with Copper Road Resources Inc., as announced on May 10, 2024 (the "Transaction"). Mr. Goodman replaces Mr. Richard Patricio, who will remain as an advisor to the Company and continue to provide strategic guidance.
Mr. Goodman has over 25 years public and mining company experience. Most recently he was President of Dundee Corporation, a TSX listed public mining merchant bank, until December 2018. He has served on several public company boards and executive positions of both public and private companies.
Mark Goodman, Chairman of Sterling, commented, "With the successful acquisition of the Copper Road Project, joining as Chairman is an exciting step to drive the advancement of this and other projects in our portfolio. I look forward to working alongside Mat and his team to navigate the opportunities in Ontario and demonstrate value for our collective shareholders."
Mathew Wilson, CEO and Director of Sterling, commented, "We are delighted to welcome Mark as Chairman of Sterling. The Copper Road Project is poised to be a significant value driver for our company, with well-defined targets and substantial regional potential. Given Mark's extensive history with the project as Chairman of Copper Road and now our largest shareholder, we look forward to leveraging his expertise to advance the project. I also want to thank Richard for his years of dedicated service and look forward to his continued support as an advisor."
Corporate Update
Pursuant to the terms of the Transaction, 86,249,546 Consideration Shares have now been distributed on to shareholders of record of Copper Road Resources Inc. on a pro rata basis (the "Distribution").
Beneficial shareholders, being those holding their Copper Road Shares through brokerage accounts where their Copper Road Shares are held via CDS or other depositories should contact their brokers for further information regarding payment of the Distribution. Registered holders of Copper Road Shares entitled to the Distribution, being those holding Copper Road Shares in certified form or under the direct registration system (DRS), will receive Consideration Shares by way of DRS statements evidencing the Consideration Shares to which they are entitled under the Distribution.
Sterling is currently developing its inaugural work program for the Copper Road Project and expects to provide an update to shareholders in due course.
About Sterling Metals
Sterling Metals (TSXV: SAG and OTCQB: SAGGF) is a mineral exploration company focused on large scale and high-grade Canadian exploration opportunities. The Company is advancing the 24,000-hectare Copper Road Project in Ontario which has past production, and multiple breccia and porphyry targets strategically located near robust infrastructure and the 29,000-hectare Adeline Project in Labrador which covers an entire sediment-hosted copper belt with significant silver credits. Both opportunities have demonstrated potential for important new copper discoveries, underscoring Sterling's commitment to pioneering exploration in mineral rich Canada.
For more information, please contact:
Sterling Metals Corp.
Mathew Wilson, CEO and Director
Tel: (416) 643-3887
Email: info@sterlingmetals.ca
Website: www.sterlingmetals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
SOURCE: Sterling Metals Corp.
View the original press release on accesswire.com
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