Strategic Resources Announces $1.5 Million Financing
Strategic Resources Announces $1.5 Million
Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWS WIRE SERVICES OR FOR
DISSEMINATION TO
UNITED STATES
/
VANCOUVER, BC
,
Sept. 29, 2020
/CNW/ -
Strategic Resources Inc.
(TSXV: SR)
(the "Company"
or "Strategic") announces its intention to undertake a non-brokered private placement financing of up
to 4,285,715 units ("Units") at a price of
$0.35
per Unit, for aggregate gross proceeds of up to
$1.5
million
(the "Offering"). Each Unit shall be comprised of one common share of the Company (each, a
"Common Share") and one-half of one Common Share purchase warrant of the Company (each
whole Common Share purchase warrant, a "Warrant"). Each Warrant shall entitle the holder thereof
to acquire one Common Share at a price of
$0.55
per Common Share at any time during the 18-
month period following the closing date of the Offering.
The use of proceeds will be to fund the Mustavaara Preliminary Economic Assessment and for
general corporate purposes and working capital. The Offering is scheduled to close on or about
October 20, 2020
(the "Closing Date") and is subject to certain conditions customary for
transactions of this nature, including, but not limited to, the receipt of all necessary approvals,
including the approval of the TSX Venture Exchange.
The shares issued under the Offering will be subject to a statutory hold period in
Canada
of four
months and one day following the Closing Date.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under
the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities
laws, and may not be offered or sold in
the United States
absent registration under the U.S.
Securities Act and all applicable U.S. state securities laws or compliance with the requirements of
exemptions therefrom. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy securities in
the United States
, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a
Vancouver, Canada
based mineral exploration and
development company that is focused on vanadium projects in
Finland
and
Peru
. The Company
continues to evaluate new opportunities that are related to the electrification of the economy.
Further details are available on the Company's website at
https://strategic-res.com/
.
To follow future news releases, please sign up at
https://strategic-res.com/contact/
.
STRATEGIC RESOURCES INC.
Signed:
"Scott Hicks"
Scott Hicks
,
CEO
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 news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts,
contain forward-looking statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or information include but are not
limited to statements or information with respect to: the size of the Offering, use of net proceeds
under the Offering, the anticipated Closing Date and the receipt of all required approvals for the
Offering. There is no assurance the Offering will be completed as described, or at all. Often, but
not always, forward-looking statements or information can be identified by the use of words such
as "will", "may" and "plans" or variations of those words and phrases or statements that certain
actions, events or results "will" be taken, occur or be achieved.
SOURCE
Strategic Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/September2020/29/c8928.html
%SEDAR: 00021914E
For further information:
Scott Hicks, [email protected], T: +1 604 646 1890
CO: Strategic Resources Inc.
CNW 08:00e 29-SEP-20