VANCOUVER, Aug. 12, 2013 /CNW/ – SIERRA IRON ORE CORP. (the “Company”) is pleased to announce the results of the annual general meeting of shareholders that was held on August 9, 2013. The meeting was well attended with over 25% of the outstanding shares voted.
AGM Results:
At the meeting, shareholders unanimously elected as directors Messrs. Wally Boguski, Laurence Sookochoff, Paul Lee and Alphonse Ruggiero. Mr. Boguski was reappointed by the board as Chief Executive Officer and President, Mr. Ruggiero was reappointed as the Chief Financial Officer and Ms. Lisa Szutiak was reappointed as Corporate Secretary. The Company’s Audit Committee consists of Messrs. Sookochoff, Ruggiero and Lee. The Company’s 10% rolling stock option plan was also approved by shareholders.
WARRANT EXTENSION:
The Company announces that it has applied to the TSX Venture Exchange, to extend the terms of warrants (the “Warrants”) issued pursuant to a two tranche unit private placement which closed in June 2011 and September 2011, respectively. Warrants to purchase 1,769,291 common shares will be amended to expire on February 1, 2014, at an exercise price of $0.40. The Warrants would have otherwise expired on September 1, 2013. Warrants to purchase 123,180 commons shares will expire on February 1, 2014, at an exercise price of $0.40. These Warrants would have otherwise expired on September 18, 2013
About Sierra Iron Ore:
Sierra Iron Ore is a growth focused mineral exploration company creating value through the exploration and development of the El Creston property located in the Sinaloa State of Mexico. The company has a continual fieldwork program at the El Creston Property that is comprised of drilling, mapping, sampling and planning for further property development. Roads have been built and upgraded and equipment has been mobilized for further developing the known magnetite zones identified by recent exploration work.
Sierra Iron Ore also has 100% ownership of the Tom Cat property which is located 200 kilometres east-northeast of Vancouver within the historic Aspen Grove copper camp. The company is currently conducting an exploration program of geological mapping and sampling program as a prelude to a planned diamond drill program.
On behalf of the Board of Directors of Sierra Iron Ore Corporation
Wally Boguski, President/CEO
Neither 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 press release, which has been prepared by management.
SOURCE Sierra Iron Ore Corporation
For further information: Please contact Wally Boguski at 604-581-0004
