More moneyEveryone wants a piece of the PIE... ALL DUCKS lined up.......
to the Best in the new year.
The Sentient Group Exercises its Participation Right: An Additional CA $1,494,000 for Strateco
12/23/2010 1:43:26 PM - NFD
BOUCHERVILLE, QUEBEC, Dec 23, 2010 (Marketwire via COMTEX News Network) --
NOT FOR RELEASE OVER U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
StratecoResources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) ispleased to announce that it has closed a non-brokered private placementfor $1,494,000 with The Sentient Group ("Sentient").
Pursuant tothe $13,000,493 private placement arranged by Strateco with a syndicateof underwriters and which the Company reported closed today, Sentientexercised its full right of participation of 11.98%. This participationright was granted in an agreement dated January 27, 2010.
Sentientagreed to purchase 1,800,000 units of Strateco (the "Units") at
.83per Unit for a total of $1,494,000. Each Unit consists of one commonshare plus half a transferable common share purchase warrant, with eachwhole warrant entitling its holder to purchase one common share at aprice of $1.05 per share for a period of 24 months from closing.
All the securities issued are subject to a hold period of four months from the closing date.
No commission was paid in connection with the non-brokered private placement.
Theproceeds of the financing will be used to advance development ofStrateco's properties and for general working capital purposes.
About The Sentient Group
The Sentient Group is an independent fund manager with over US $1.3 billion under management in the natural resource sector.
More information on The Sentient Group can be found on their web site at: www.thesentientgroup.com.
Thisrelease includes certain statements that may be deemed forward-lookingstatements. All statements in this release, other than statements ofhistorical facts, that address future production, reserve potential,exploration drilling, exploitation activities and events or developmentsthat the Company expects are forward-looking statements. Although theCompany believes the expectations expressed in such forward-lookingstatements are based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developments maydiffer materially from those in the forward-looking statements. Factorsthat could cause actual results to differ materially from those inforward-looking statements include market prices, exploitation andexploration successes, continued availability of capital and financing,and general economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance and that actual results or developments may differmaterially from those projected in the forward-looking statements. Formore information on the Company, Investors should review the Company'sfilings that are available at www.sedar.com.
SOURCE: Strateco Resources Inc.