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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.
AGM Highlights
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.
Tel: 416-742-5600
T/F: 1-866-580-8891
info@firstcanadiancapital.com
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.
Forward-Looking Statements
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.