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VANCOUVER, June 17, 2013 /CNW/ - Sierra Metals Inc. (TSXV: SMT) (BVL: SMT) ("Sierra Metals" or the "Company") is pleased to announce that it has retained First Canadian Capital Corp. ("First Canadian") as a consultant to provide consulting and investor relations services.
First Canadian will introduce the Company to private investors, analysts, brokers, money managers and other financial professionals, and will generate market awareness for the projects, business and affairs of the Company.
Under the terms of the consulting agreement with First Canadian (the "Agreement"), Sierra Metals will pay First Canadian $7,000 per month for a twelve month initial term (with a right of termination by either party after six months) and grant 200,000 stock options at an exercise price of $2.50 per share, with vesting in accordance with the Agreement, the TSX Venture Exchange (the "TSXV") policies and the Company's stock option plan. The stock options will expire and terminate upon the earlier of: (i) 15 months from the date of the execution of the Agreement; and (ii) 30 days after First Canadian ceases to provide any and all services set forth in the Agreement. The Agreement and related stock option issuance remain subject to the approval of the TSXV.
At the Annual and Special Meeting of Sierra Metals' shareholders held on May 29, 2013 in Lima, Peru, all of the resolutions tabled were overwhelmingly approved by shareholders, including the re-election of J. Alberto Arias, Douglas F. Cater, Steven G. Dean, John S. Donnelly, Guillermo Kaelin, Philip Renaud and Daniel Tellechea as directors.
Included in the special resolutions approved at the meeting was an amendment of the Company's articles to change the province in which the registered office of the Company is to be situated from the Province of Ontario to the Province of British Columbia. A reduction of the legal stated capital account in respect of the common shares of the Company was also approved by the shareholders.
About First Canadian Capital Corp
Based in Toronto and in the investor relations business for fifteen years, First Canadian has assisted numerous, small-cap and mid-tier corporations in gaining exposure and recognition within the global investment community. First Canadian's core competencies are found in identifying quality assets and undervalued companies with high growth potential and providing effective investor relations and market awareness services to these companies. First Canadian is proud to have had two clients win the PDAC Prospector of the Year Award.
For further information on First Canadian, please visit www.firstcanadiancapital.com or contact:
First Canadian Capital Corp.
About Sierra Metals Inc.
Sierra Metals Inc. is a Canadian mining company focused on precious and base metals from its Yauricocha mine in Peru, and its Bolivar and Cusi mines in Mexico. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico. Projects in Peru include Adrico (gold), Victoria (copper-silver) and Ipillo (polymetallic) at the Yauricocha Property in the province of Yauyos and the San Miguelito gold properties in Northern Peru. Projects in Mexico include Bacerac (silver) in the state of Sonora, La Verde (gold) at the Batopilas Property in the state of Chihuahua, and Las Coloradas (silver) at the Melchor Ocampo Property in the state of Zacatecas.
The common shares of the Company trade on the Bolsa de Valores de Lima and the TSXV under the symbol "SMT".
Neither the TSXV nor its Regulation Services Provider (as such term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", which involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect the Company's ability to execute its current business plan. Actual results may differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE: Sierra Metals Inc.
For further information:
on Sierra Metals, please visit www.sierrametals.com or contact:
President & CEO
Sierra Metals Inc.
1 (866) 493‐9646
Director, Investor Relations
Sierra Metals Inc.
1 (866) 493‐9646