VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 26, 2015) - Strategic Metals Ltd. (News - Market indicators) ("Strategic" or the "Company") announces that on March 25, 2015 it purchased 21,000,000 common shares of Rockhaven Resources Ltd. ("Rockhaven") at a price of $0.21 per share pursuant to a private placement, for total cash consideration of $4,410,000. As a result of the acquisition of these shares, Strategic now holds 48,847,500 common shares of Rockhaven, representing 46.59% of the 104,838,334 common shares of Rockhaven currently issued and outstanding. (Rockhaven is a reporting issuer in the Provinces of British Columbia, Alberta and Ontario, the shares of which are listed for trading on the TSX Venture Exchange, of which certain directors and/or officers of Strategic are also directors and/or officers.)
The securities of Rockhaven held by Strategic as disclosed herein are held by Strategic for investment purposes. Strategic may increase or decrease its ownership of securities of Rockhaven in the future, depending upon market conditions. There are no persons acting jointly or in concert with Strategic in respect of its shareholdings in Rockhaven, nor has it entered into any agreements in respect of its shareholdings in Rockhaven with any other person or persons.
"Rockhaven's 100% owned and road accessible Klaza property is one of the most exciting high grade gold-silver exploration projects in Canada," stated Doug Eaton, the President of Strategic. "Our private placement will allow Rockhaven to expand the known mineral resource while collecting the engineering, metallurgical and environmental data needed for economic assessment by Strategic and potential development partners."
This news release is being issued pursuant to National Instrument 62-103, which also requires a report to be filed by Strategic with each of the British Columbia, Alberta and Ontario Securities Commissions containing information with respect to its shareholdings in Rockhaven (an Early Warning Report).
ON BEHALF OF THE BOARD
W. Douglas Eaton, President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
