HONG KONG, Feb. 22, 2017 /CNW/ - Meridian Capital
International Fund ("Meridian") announced today that it had
acquired 8,831,114 common shares ("Acquired Shares") of
Sterling Resources Ltd. (TSXV: SLG) ("Sterling") on January 20, 2017. The Acquired Shares were
acquired at a price of $0.55 per
common share, and having an aggregate acquisition price of
$4,857,112.70.
YF Finance Limited and, together with Meridian, are considered
to be acting jointly and in concert. Prior to acquiring the
Acquired Shares, Meridian held 51,454,247 common shares of
Sterling, representing approximately 34.9% of Sterling's
outstanding common shares and YF Finance Limited held 381,050
common shares of Sterling or approximately 0.3% of Sterling's
outstanding common shares. Together with the common shares held by
YF Finance Limited, Meridian held approximately 35% of the
outstanding common shares.
Following the acquisition of the Acquired Shares, Meridian owns
60,285,361 Sterling common shares. Together, YF Finance Limited and
Meridian have ownership of, or control over 60,666,411 Sterling
common shares, representing approximately 41.2% of Sterling's
147,190,985 outstanding common shares.
The Acquired Shares will be held by Meridian for investment
purposes. Depending upon the circumstances, Meridian may,
from time to time, acquire additional securities or related
financial instruments of Sterling or dispose of all or a portion of
the securities or related financial instruments of Sterling
previously acquired.
This news release is being issued pursuant to National
Instrument 62-103 The Early Warning System and Related Take-Over
Bid and Insider Reporting Issues.
An early warning report with respect to Meridian's acquisition
of the Acquired Shares, which is incorporated by reference herein,
will be electronically filed with the securities regulatory
authorities and will be available for viewing under Sterling's
profile on the System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com. To obtain a copy of the report,
contact Jamii Quoc, General Counsel of Meridian, at the
contact information provided for Meridian below. Sterling's
head office is located at 4300, 888 3rd Street SW,
Calgary AB T2P 5C5.
Forward-Looking Statement Disclaimer
Other than historical information included in this press
release, all other statements are forward-looking, including
statements about the early warning report and the filing thereof
with applicable Canadian securities regulatory authorities and the
future intentions and expectations of Meridian with respect to the
investment. Forward-looking statements are subject to certain risks
and uncertainties that could cause actual events to vary, including
the risk that a material adverse change occurs in respect of
Meridian or Sterling, and other risks that could affect the
investment described herein, such as market and other conditions.
Meridian disclaims any obligation to update these forward-looking
statements except as required by law.
SOURCE Meridian Capital International Fund
