Maybe a drilling iscoming soon on PBM land ???
Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9
February 16, 2012 17:33 ET
Strateco Announces Private Placement Financing
BOUCHERVILLE, QUEBEC--(Marketwire - Feb. 16, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that it has entered into an agreement with Primary Capital Inc. on behalf of a syndicate of registered dealers (the "Agents") pursuant to which Strateco shall offer for sale on a private placement basis "flow through" common shares of Strateco ("FT Shares") at a price of
.65 per Quebec FT Share and
.60 per federal FT Share, to raise aggregate gross proceeds of up to $7,000,000 (the "Offering"). The Agents shall also have the option exercisable in whole or in part to increase the size of the Offering up to $10,000,000, at any time up to 24 hours prior to closing.
The closing of the Offering is scheduled to take place on or about February 29, 2012 and is subject to a minimum subscription amount of $10,000. All securities issued will be subject to a four month hold period. The Offering is subject to a number of conditions, including the approval of the Toronto Stock Exchange.
The net proceeds of the Offering will be used to advance development of the Matoush uranium exploration project, located in the Otish Mountains of northern Quebec.
This news release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.