VANCOUVER, Nov. 19, 2013 /CNW/ - Sierra Iron Ore Corporation (Symbol: NAA-TSXV/OTCQX:SIOCF) (the "Company") is pleased to announce that the company has secured DTC Eligibility by The Depository Trust Company for its shares on the OTC effective November 18, 2013.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
Wally Boguski, President and CEO, stated, "We are pleased to announce that we have obtained DTC eligibility, effective November 18, 2013. Electronic trading is the standard in today's financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common stock. We would like to thank our transfer agent, Vstock Transfer, for their guidance through this process. We will continue to update our shareholders on our progress."
With reference to the Company's press release dated September 9, 2013, the Company wishes to advise that it will request shareholder approval at its next Annual General Meeting to re-price 244,903 stock options previously granted on June 29, 2011. These options remain exercisable under the Company's Stock Option Plan. The Company also wishes to advise with reference to the September 18, 2013, press release that 127,500 options have been granted to directors, officers and consultants at a price of $0.43, not $0.40 as previously disclosed.
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 as well as 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.
Paul Lee, Director
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:
contact Corey Safran, Strategic Development, at 609-228-0595, or by email at [email protected].