UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 8, 2011
STERLING GROUP VENTURES, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 000-51775 | 72-1535634 | |
| (State or other jurisdiction | (Commission | (IRS Employer | |
| of incorporation) | File Number) | Identification No.) | |
| 308 - 1228 Marinaside Cr., | |||
| Vancouver, B.C., Canada | V6Z 2W4 | ||
| (Address of principal executive offices) | (Zip Code) | ||
Registrant’s telephone number, including area code: (604) 689-4407
n/a
(Former name or former address, if changes since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Section 2 – Financial Information
ITEM 2.01 Completion of Acquisition or Disposition of Assets
Sterling Group Ventures, Inc. (the "Company") has received all required approvals from Chinese authorities for the completion of its acquisition of Chenxi County Hongyu Mining Co. Ltd. ("Hongyu") pursuant to the Agreement dated October 18, 2010, Filed as Exhibit 10.1 to the Company's current report on Form 8-K filed on October 21, 2010. 10,000,000 shares of the Company's common stock have been issued and RMB 2,000,000 Yuan were paid to the Hongyu shareholders as consideration for the acquisition. The Company through its wholly owned subsidiary, Silver Castle Investments Ltd. holds 90% of Hongyu and the other 10% of Hongyu is held by the nominees of the Company.
Hongyu is a Chinese private mining company with connections and resources in Hunan, China. Hongyu is interested in exploring, developing and expanding its Phosphate business. Hongyu is the holder of a mining permit (the "Permit") in the GP Property located in Tanjiachang village, Chenxi County, Hunan Province, China. The GP Property is a sedimentary phosphate type deposit. The number of the mining permit is 4300002009116120048322. The area covered by the Permit is 0.425 km2 (42.5 hectares) and it is valid until November 10, 2014. The recording date is November 10, 2009. The mining permit allows initial production up to 100,000 tonnes of phosphate ore per year.
Hongyu is currently preparing plans to put its phosphate deposit into production.
Section 9 – Financial Statements and Exhibits
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
| Exhibit No. | Description |
| 99.1 | Press Release "STERLING COMPLETES ACQUISITION OF CHINA PHOSPHATE COMPANY" dated July 11, 2011 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
STERLING GROUP VENTURES, INC.
/s/Raoul Tsakok
Raoul Tsakok
Chairman & CEO
July 11, 2011
Exhibit 99.1 PRESS RELEASE
STERLING COMPLETES ACQUISITION OF CHINA PHOSPHATE COMPANY
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 07/11/2011
Sterling Group Ventures, Inc. (OTCQB: SGGV)(FRANKFURT: GD7) ("Sterling") is pleased to advise that it has now received all required approvals from Chinese authorities for the completion of its acquisition of Chenxi County Hongyu Mining Co. Ltd. ("Hongyu"). 10,000,000 shares have been issued and RMB 2,000,000 Yuan were paid as consideration for the acquisition.
Hongyu is a Chinese private mining company with connections and resources in Hunan, China. Hongyu is the holder of a phosphate mining permit in Chenxi County, Hunan Province, China. The number of the mining permit is 4300002009116120048322.
Hongyu is currently preparing plans to put its phosphate deposit into production. Sterling is currently reviewing its plan to increase production under its mining permit as well as reviewing other potential phosphate acquisitions.
ON BEHALF OF THE BOARD OF DIRECTORS
Raoul Tsakok, Chairman & CEO
For further information, please contact:
Raoul Tsakok, Chairman , Richard Shao, PhD, President or Robert Smiley, JD, Director
Phone: (604) 689-4407 Fax: (604) 408-8515
Email: info@sterlinggroupventures.com
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of the mining related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cautionary Note to U. S. Investors Concerning Estimates of Measure, Indicated, and Inferred Resources and Reserves. Statements regarding resources and reserves have been based on audits conducted under Chinese methods of calculation which the SEC guidelines strictly prohibit in its filings.