Strateco Resources Inc. ("Strateco")
(TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that it
has closed the $10,000,043 bought deal private placement financing that
it announced on November 30, 2010 comprised of 6,024,100 units (the
"Units") and 5,263,200 flow-through common shares (the
"Flow-Through Shares"). Furthermore, the syndicate of
underwriters (the "Underwriters") exercised its full option
to sell an additional 3,615,000 Units representing $3,000,450 for total
gross proceeds of $13,000,493.
Led by Dundee Securities Corporation and including National Bank
Financial Inc., Macquarie Capital Markets Canada Ltd., Stonecap Securities Inc., Haywood Securities Inc.,
Laurentian Bank Securities Inc. and NCP Northland Capital Partners
Inc., the Underwriters sold 9,639,100 Units of Strateco
at $0.83 per Unit and 5,263,200 Flow-Through Shares at $0.95 per
Flow-Through Share. Each Unit consists of one common share plus half a
transferable common share purchase warrant, with each whole warrant
entitling its holder to purchase one common share at a price 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.
In connection with this private placement, the Underwriters received a
cash commission of 5.0% of the gross proceeds raised under the
offering.
The proceeds of the financing will be used to advance development of Strateco's properties and for general working
capital purposes.
This release includes certain statements that may be deemed
forward-looking statements. All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continued availability
of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and that actual
results or developments may differ materially from those
projected in the forward-looking statements. For more information on
the Company, Investors should review the Company's filings that are
available at www.sedar.com.
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