Strateco Resources Inc SRSIF

Energy

Strateco Resources Inc. is a mining company. The Company is engaged in uranium exploration and development. The Company's Matoush project is located in the Otish Mountains of northern Quebec, approximately 275 kilometers north of Chibougamau and over 210 kilometers northeast of Mistissini. The Matoush project consists of the Matoush, Matoush Extension and Eclat properties, as well as the Pacific-Bay-Matoush property. The Matoush project comprises approximately 590 claims covering a total area of over 31,195 hectares. The Matoush property is located approximately 275 kilometers north of Chibougamau in the Otish Mountains of northern Quebec, Canada. The Eclat property is located in the Otish Mountains of northern Quebec, immediately south of the Matoush property. The Matoush Extension property is located north, west and east of the Matoush property in the Otish Mountains, in Northern Quebec. The Pacific-Bay Matoush Property is located in the Otish Mountains in northern Quebec.

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Strateco Resources Inc

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Post by Tizianon Aug 26, 2011 7:11am

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Post# 18981401

Looks like you won't be seeing

me any more. Deacan picked the wrong horse again .

Cameco Announces Intention to Acquire Hathor Exploration Limited

Conference Call and Webcast at 9:00 a.m. EDT Today

- All-cash offer of $3.75 per Hathor share

-Premium of 40% over Hathor's closing share price and 33% over Hathor's20-day volume-weighted average price as at August 25, 2011

- Immediate liquidity and elimination of risk for Hathor shareholders

- Investor conference call today at 9:00 a.m. EDT

SASKATOON, SASKATCHEWAN--(Marketwire - Aug. 26, 2011) - Cameco (TSX:CCO)(NYSE:CCJ) announced that it intends to make an offer (the "Offer") toacquire all of the outstanding shares of Hathor Exploration Ltd. (TSX:HAT) for cash consideration of $3.75 per share in a transaction whichvalues the fully diluted share capital of Hathor at approximately $520million(1).

Cameco delivered a written proposal to Hathor following theclose of market on Friday, August 19, 2011 outlining its interest inacquiring the company for cash in a transaction valued at $3.75 pershare. Cameco made today's announcement after discussions with Hathorregarding a potential board-supported transaction failed to result in anagreement.

Hathor is a junior uranium company focused on explorationprojects in the Athabasca Basin of northern Saskatchewan, Canada. Thecompany's most significant asset is the Roughrider uranium deposit. TheRoughrider deposit is estimated to contain indicated and inferredresources of approximately 17.2 and 40.7 million pounds of uranium (U₃O₈) respectively(2). The deposit is located approximately 25 kilometres northwest of Cameco's Rabbit Lake mill.

Estimated fully diluted share capital of approximately 139 million shares, based on Hathor's public disclosure.

Indicated and inferred resources of the Roughrider deposit as reported by Hathor in a press release dated June 17, 2011. The deposit's west zone has an indicated resource estimate of 394,200 tonnes of ore containing 17.2 million pounds at an average grade of 1.98% U₃O₈ and an inferred resource estimate of 43,600 tonnes of ore containing 10.6 million pounds at an average grade of 11.03% U₃O₈. The deposit's east zone has an inferred resource estimate of 118,000 tonnes of ore containing 30.1 million pounds at an average grade of 11.58% U₃O₈.

Compelling Offer for Hathor Shareholders

The Offer is compelling for Hathor shareholders as it provides:

Attractive Premium: The Offer price of $3.75 per Hathor share represents an attractive premium of 40% over Hathor's closing price and 33% over Hathor's 20-day volume-weighted average price as at August 25, 2011.

Liquidity and Certainty of Value: The consideration offered is cash, which provides Hathor shareholders with certainty of value and immediate liquidity, while removing the inherent execution risk to shareholders that is associated with companies in the early stages of development such as Hathor.

Fully Financed Offer: The Offer is not subject to a financing condition and will be funded using existing cash on hand, providing Hathor shareholders with little execution risk.

Avoidance of Dilution: Continued development of the Roughrider deposit and Hathor's other projects will require substantial additional funds; any additional equity financing, joint venture agreement(s) or other transaction(s) that are undertaken could result in material dilution to existing Hathor shareholders.

"Our offer provides Hathor shareholders an opportunity toreceive an immediate and substantial premium for their shares andeliminate the inherent risks of a company at Hathor's early stage ofdevelopment," said Tim Gitzel, president and CEO of Cameco.

"The market has recognized the exceptional job Hathor hasdone with the Roughrider deposit and the company's other properties.Given our financial strength, development expertise, existinginfrastructure and experience in the Athabasca region, we feel we are ina unique position to build on that success and further advance theRoughrider deposit."

The Offer will commence as soon as possible by publication ofan advertisement and filing of a take-over bid circular which includesthe full details of the Offer, including applicable terms andconditions.

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