CALGARY, May 30, 2014 /CNW/ - Sterling Resources Ltd. (TSX-V:SLG)
("Sterling" or the "Company") announces that the following matters were
approved by the shareholders at the annual and special meeting ("AGM")
held today in Calgary. An archived version of Sterling's AGM can be
accessed for the next ninety days. To listen to the webcast of the AGM
please go to http://www.newswire.ca/en/webcast/detail/1311647/1448039.
The shareholders elected Messrs. Robert Carter, Jim Coleman, John
Collenette, Teck Soon Kong, Jacob Ulrich and Gavin Wilson as directors
of the Company.
The shareholders approved the adoption of a new "rolling" stock option
plan, subject to acceptance by the TSX Venture Exchange ("TSX-V"),
whereby a maximum of 10 percent of the issued common shares of the
Company may be reserved for issuance pursuant to the exercise of
The Board of Directors granted stock options today to officers,
directors and employees of the Company and its subsidiaries. Options
were granted to acquire 13,290,000 common shares at an exercise price
of $0.55 per share. The options are exercisable for up to a five-year
term and vest over three years from the date of grant.
Sterling Resources is a Canadian-listed international oil and gas
company headquartered in Calgary, Alberta with assets in the United
Kingdom, Romania, France and the Netherlands. The common shares are
listed and posted for trading on the TSX-V 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
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.
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, including:
the impact of general economic conditions in the areas in which
Sterling operates, civil unrest, industry conditions, changes in laws
and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified personnel
or management, fluctuations in commodity prices, foreign exchange or
interest rates, stock market volatility and obtaining required
approvals of regulatory authorities. In addition there are risks and
uncertainties associated with oil and gas operations. 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.
For further information:
Visit www.sterling-resources.com or contact:
Jacob Ulrich, Chief Executive Officer, Phone: (403) 237-9256, email@example.com
David Blewden, Chief Financial Officer, Phone: (403) 237-9256, firstname.lastname@example.org
George Kesteven, Manager, Corporate and Investor Relations, Phone: (403) 215-9265, Mobile: (403) 519-3912, email@example.com