Sterling Metals Announces Approval of Arrangement by QcX Gold Shareholders
TORONTO, ON / ACCESS Newswire / August 18, 2026 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling" or the "Company") is pleased to announce that further to its press release of June 2, 2026, the shareholders of QcX Gold Corp. ("QcX") have approved the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") involving the Company and QcX at the annual general and special meeting of QcX held on August 18, 2026.
Closing of the Arrangement remains subject to satisfaction of certain customary closing conditions, including stock exchange and regulatory approvals. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement on or around August 25, 2026.
In addition, the Company has entered into an access agreement dated August 17, 2026 (the "Agreement") with an arm's length party to the Company (the "Owner"), pursuant to which the Company has been granted access to conduct mineral exploration on several mineral claims in Ontario (the "Property"). As consideration for the access, the Company shall issue the Owner: (i) 210,000 common shares (the "Common Shares") in the capital of the Company; and (ii) an aggregate of 250,000 Common Share purchase warrants (each, a "Warrant"), entitling the holder to acquire Common Shares at a price of $1.23 per Common Share until the date that is two years from the date of issuance.
The completion of the transaction contemplated by the Agreement remains subject to the approval of all regulatory and other approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Agreement will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.
About Sterling Metals
Sterling (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 25,000-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. | |
Tel: | (416) 643-3887 |
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.
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