Mr. Guy Hebert reports
STRATECO CLOSES CA $4,000,000 BRIDGE LOAN WITH Sidex
Strateco Resources Inc. has received, on Nov. 26, 2010, a previouslyannounced bridge loan from Sidex LP in an amount of $4-million.
The loan bears interest at an annual rate of 8 per cent, to be paidquarterly. The loan is secured and must be repaid within 30 days fromthe receipt of the 2010 tax credits for resources, or at the latest, byDec. 31, 2011. The use of the funds is at the discretion of the company.
In connection with the loan, Strateco issued 500,000 common sharepurchase warrants to Sidex. Each warrant entitles the holder to acquireone additional common share of Strateco for 24 months at a price of$1.05 per share. Each common share will be subject to a resalerestriction of four months.
About Sidex
Sidex was established by the government of Quebec and the SolidarityFund QFL. The mission of Sidex is to invest in companies engaged inmineral exploration in Quebec in order to diversify Quebec's mineralbase, encourage new exploration models, stimulate investment for newcommodities in existing districts and open new territories with highpotential for discovery.
We seek Safe Harbor.