CALGARY, Oct. 2, 2017 /CNW/ - Sterling Resources Ltd.
(TSX-V:SLG) ("Sterling" or the "Company") 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 "SLG".
Neither the TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this release.
Filer Profile No.
00002072
Forward-Looking Statements
All statements included in this news release that address
activities, events or developments that Sterling expects, believes
or anticipates will or may occur in the future are forward-looking
statements. In particular, this news release contains
forward-looking statements with respect to discussions in respect
of a potential transaction and the results thereof and the
declaration and payment of the second distribution.
These forward-looking statements involve numerous assumptions
made by Sterling based on its experience, perception of historical
trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances. In
addition, these statements involve substantial known and unknown
risks and uncertainties that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will prove inaccurate, certain of which are beyond
Sterling's control. Readers should also carefully consider
the matters discussed under the heading "Risk Factors" in the
Company's Annual Information Form.
Undue reliance should not be placed on these forward-looking
statements, as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur.
Sterling's actual results, performance or achievements could differ
materially from those expressed in, or implied by, these
forward-looking statements. These statements speak only as of
the date of the news release. Sterling does not intend and does not
assume any obligation to update these forward-looking statements
except as required by law.
SOURCE Sterling Resources Ltd.
