Strateco Resources Inc.: Private Placement of CDN$10,000,000
Strateco Resources inc. ('Strateco') (TSX VENTURE:RSC)(OTCBB: SRSIF)(FRANKFURT:RF9) intends to complete a non-brokered private of Cdn$10,000,000. The private placement will be of 8,000,000 units at a price of $1,25 per unit. Each unit will consist of one common share and half of warrant, with each whole warrant entitling its holder to purchase one common share of the Company for a 18-month period, at $1.50 per share.
If the trading price of the common shares of Strateco on the TSX Venture Exchange is equal or exceeds $1.70 for 20 consecutive trading days, at any time after four months and one day following the closing date, Strateco shall be entitled to notify the warrant holders of its intention to trigger the exercise of the warrants. Upon reception of such notice, warrant holders shall have 30 calendar days to exercise the warrants, at which point the warrants will prematurely expire.
The Company will pay a cash commission of 8% as finder's fee.
In accordance with securities legislation, the shares and warrants issued under the private placement will be subject to a "hold period" of four months and one day from the closing date.
The net proceeds of this private placement will be used for the exploration of the Matoush and Mont-Laurier uranium projects and for the working capital.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Source: Market Wire (May 4, 2006 - 10:06 AM EDT
Strateco Resources inc. ('Strateco') (TSX VENTURE:RSC)(OTCBB: SRSIF)(FRANKFURT:RF9) intends to complete a non-brokered private of Cdn$10,000,000. The private placement will be of 8,000,000 units at a price of $1,25 per unit. Each unit will consist of one common share and half of warrant, with each whole warrant entitling its holder to purchase one common share of the Company for a 18-month period, at $1.50 per share.
If the trading price of the common shares of Strateco on the TSX Venture Exchange is equal or exceeds $1.70 for 20 consecutive trading days, at any time after four months and one day following the closing date, Strateco shall be entitled to notify the warrant holders of its intention to trigger the exercise of the warrants. Upon reception of such notice, warrant holders shall have 30 calendar days to exercise the warrants, at which point the warrants will prematurely expire.
The Company will pay a cash commission of 8% as finder's fee.
In accordance with securities legislation, the shares and warrants issued under the private placement will be subject to a "hold period" of four months and one day from the closing date.
The net proceeds of this private placement will be used for the exploration of the Matoush and Mont-Laurier uranium projects and for the working capital.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Source: Market Wire (May 4, 2006 - 10:06 AM EDT
