Offering funds development of the Matoush uranium exploration project
By Devika Patel
Knoxville, Tenn., Feb. 16 - Strateco Resources Inc. said it plans a C$7 million private placement of stock with a C$3 million greenshoe. Primary Capital Inc. is the lead agent of a syndicate.
The company will sell flow-through common shares at C$0.65 per Quebec share and C$0.60 per federal share. The prices per share are 20.37% and 11.11% premiums to C$0.54, the Feb. 15 closing share price.
Settlement is expected Feb. 29.
Proceeds will be used for development of the Matoush uranium exploration project in northern Quebec.
Montreal-based Strateco is a uranium exploration company.
| Issuer: | Strateco Resources Inc.
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| Issue: | Flow-through common shares
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| Amount: | C$7 million
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| Greenshoe: | C$3 million
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| Warrants: | No
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| Agent: | Primary Capital Inc. (lead)
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 29
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| Stock symbol: | Toronto: RSC
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| Stock price: | C$0.54 at close Feb. 16
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| Market capitalization: | C$87 million
|
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| Quebec shares
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| Price: | C$0.12
|
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| Federal shares
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| Price: | C$0.10
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