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