Strategic Resources announces non-brokered private placement
08 2월 2011 - 1:02AM
PR Newswire (Canada)
REGINA, Feb. 7 /CNW/ -- TSX.V:UVR REGINA, Feb. 7 /CNW/ - Strategic
Resources Inc. ("Strategic" or "the Corporation"), announces that
it is undertaking a non-brokered private placement consisting of up
to 6,800,000 units (the "Units") at a price of $0.11 per Unit to
qualified investors, to raise up to $748,000. Each Unit consists of
one common share and one share purchase warrant exercisable into an
additional common share of the Company at a price of $0.16 per
share in Year 1 and $0.21 per share in Year 2. Insiders may
subscribe for up to $220,000 of the Offering representing up to
2,000,000 Units. The insider private placements are exempt from the
valuation and minority shareholder approval requirements of
Multilateral Instrument 61-101 ("MI61-101") by virtue of the
exemptions contain in section 5.5(a) and 5.7(1)(a) of MI61-101 in
that the fair market value of the consideration for the securities
of the Corporation to be issued to insiders does not exceed 25% of
its market capitalization. Finders' fees may be paid in accordance
with TSX Venture Exchange policies. Proceeds of the offering will
be used for reclamation bonding and for drilling on the
Corporation's mineral exploration projects in New Mexico, USA. The
completion of the Offering is subject to the approval of the TSX
Venture Exchange. About Strategic Resources Strategic Resources is
a Canadian based junior exploration company with uranium/vanadium
exploration projects in Catron County, New Mexico, Rare Earth
exploration projects in Lincoln County and Socorro County, New
Mexico and a Lithium project in Malheur County, Oregon. More
information about the company is available on line at
www.strategicresourcesinc.ca. Disclaimer: Neither the 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 release.
Forward looking statements: This news release may contain certain
forward-looking inferences or statements. These forward-looking
inferences or statements are subject to a variety of risks and
uncertainties beyond the Corporation's control or prediction and
could cause actual events or results to differ materially from
those anticipated in such forward-looking statements. Although the
Corporation believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should
not be placed on these forward-looking statements. To view this
news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/07/c8455.html
pplease contact:/p pbMalcolm Bucholtz, President & CEO,/b/p
pTel: 1.306.525.0852/p pa
href="mailto:newmexicouranium@gmail.com"newmexicouranium@gmail.com/a/p
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