Strategic Resources Closes Non-Brokered Private Placement
24 2월 2011 - 11:30PM
PR Newswire (Canada)
REGINA, Feb. 24 /CNW/ -- TSXV: UVR REGINA, Feb. 24 /CNW/ -
Strategic Resources Inc. ("Strategic" or "the Corporation") (TSXV:
UVR), announces that it has completed the private placement of
6,800,000 units announced on February 7, 2011. Each unit (a "Unit")
was priced at $0.11 per Unit for gross proceeds of $748,000. Each
Unit consists of one (1) common share (the "Share") and one share
purchase warrant (a "Warrant"). Each Warrant entitles the holder to
acquire a further common share of the Company at a price of $0.16
until February 22, 2012 or at a price of $0.21 until February 22,
2013. A cash fee of $45,920 and 417,454 compensation options to
acquire units at $0.11 per unit ("Compensation Units") were issued.
Each Compensation Unit is comprised of one (1) common share and one
non-transferable share purchase warrant (the "Compensation
Warrant"). Each Compensation Warrant entitles the holder to
purchase one (1) common share (the "Warrant Shares") of the Company
at a price of $0.16 per Warrant Share until February 22, 2012 or at
a price of $0.21 until February 22, 2013. All of the securities
referred to herein are legended and restricted from trading until
at least June 23, 2011. An insider of the Company subscribed for
2,000,000 Units for gross proceeds of $220,000. The insider private
placement is 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 MI 61-101 in that the fair market value of the
consideration for the securities of the Company issued to the
insiders does not exceed 25% of its market capitalization. The
funds will be used for reclamation bonding and for drilling on the
Company's mineral exploration projects in New Mexico, USA. 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/February2011/24/c5668.html
pbMalcolm/bbBucholtz, President & CEO/b, Tel:1.306.525.0852, a
href="mailto:strategicminerals@yahoo.com"strategicminerals@yahoo.com/a/p
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