Le Lézard
Classified in: Oil industry

Sterling Resources Ltd. Announces Discussion Regarding a Potential Transaction with a Third Party and Delay in Second Distribution



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.


These press releases may also interest you

20 oct 2017
QUÉBEC, Oct. 20, 2017 /CNW Telbec/ - The Quebec Oil & Gas Association applauds the government's decision to extend the comments period for the new regulations. These regulations, the first modern ones in Quebec governing oil and gas, are...

20 oct 2017
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ VANCOUVER, Oct. 20, 2017 /CNW/ - San Angelo Oil Limited ("San...

20 oct 2017
ATLANTA, Oct. 20, 2017 /PRNewswire/ -- PowerSecure, a subsidiary of Southern Company, has been awarded a contract by the U.S. Army Corps of Engineers (USACE) for additional support to repair the power grid in Puerto Rico....

20 oct 2017
COLUMBUS, Ohio, Oct. 20, 2017 /PRNewswire/ -- American Electric Power (NYSE: AEP) has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. EDT Thursday, Oct. 26. The call will be broadcast live over the internet at...

20 oct 2017
EDMONTON, Oct. 20, 2017 /CNW/ - ZCL Composites Inc. (TSX:ZCL) has scheduled an investor conference call for 9:00 am MT (11:00 am ET) on Friday, November 3, 2017 to discuss its financial and operating results for the third quarter ended September 30,...

20 oct 2017
LAS VEGAS, Oct. 20, 2017 /PRNewswire/ -- AkzoNobel introduced today the next evolutionary advancement in print technology at METALCON 2017 with the release of CERAM-A-STAR Expressions, an innovative textured finish that engages the senses with the...




News published on 2 october 2017 at 08:30 and distributed by: