VANCOUVER,
Jan. 9, 2014 /CNW/ - Sierra Metals
Inc. (TSX:SMT) (BVL:SMT) ("Sierra Metals" or the
"Company") is pleased to announce its fourth quarterly cash
dividend of approximately CAD$2.5
million, or CAD$0.016 per
common share of the Company (each, a "Common Share"),
payable on January 31, 2014 to the
holders of the issued and outstanding Common Shares as of the close
of business on January 21, 2014.
Dividend Reinvestment Plan
As previously announced on October 1, 2013, the Company's Board of directors
approved the adoption of a dividend reinvestment plan (the
"Plan"). Eligible shareholders may elect to participate in
the Plan. Participation in the Plan is optional. The enrollment
deadline for participation in the Plan for the fourth quarterly
dividend is 4:00 p.m. (Eastern Standard
Time) on January 14, 2014.
For further information on Sierra Metals'
dividend reinvestment plan, please visit
www.sierrametals.com/investors/dividends.
The declaration and payment of future dividends
will be subject to the Company's cash requirements, as well as the
satisfaction of statutory solvency tests. In addition, the Board of
directors of the Company will assess future years' dividend payout
levels, from time to time, in light of the Company's financial
performance and its current and anticipated business needs at such
time.
Sierra Metals designates this dividend to be an
"eligible dividend" pursuant to subsection 89(14) of the Income
Tax Act (Canada) and similar
provincial and territorial legislation.
About Sierra Metals
Sierra Metals Inc. is a Canadian mining company
focused on production of precious and base metals from its
Yauricocha Mine in Peru, its
Bolivar Mine and Cusi Mine 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 Company's shares trade on the Bolsa de
Valores de Lima and the TSX under
the symbol "SMT".
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 and to continue to pay a
quarterly dividend. Actual results might 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.
Important Notice
This press release is made only as a matter of
disclosure and does not imply an offer or invitation to participate
in the Plan. The Plan does not constitute an offer in any
jurisdiction in which such an offer would not be in compliance with
any applicable legislation.
SOURCE Sierra Metals Inc.