By Sheri Kasprzak
New York, Sept. 27 - Strateco Resources Inc. said it has arranged a private placement of units for C$3 million.
The company plans to sell 25 million units at C$0.12 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.18 each for the first year and C$0.25 each for the remaining six months.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$0.25 for 20 consecutive trading days.
Canaccord Capital Corp. will lead a syndicate of placement agents for the offering.
Proceeds will be used for exploration on uranium projects in the Otish Mountains and Mount-Laurier area of Quebec.
Based in Montreal, Strateco is a mineral exploration company.
| Issuer: | Strateco Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 25 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.18 for the first year; C$0.25 for the remaining six months
|
| Placement agents: | Canaccord Capital Corp. (lead)
|
| Pricing date: | Sept. 27
|
| Stock price: | C$0.12 at close Sept. 27
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
