Strategic Resources Revises Terms of Silasselkä Earn-in
Strategic Resources Revises Terms of Silasselkä
Earn-in
VANCOUVER, BC
,
June 17, 2020
/CNW/ -
Strategic Resources Inc.
(TSXV: SR)
(the "Company" or
"Strategic") announces that it has revised the terms of the Silasselkä project earn-in with Aurion Resources
("Aurion"). Aurion has agreed to waive the required expenditures on the project totalling
C$3.0 million
over the
three-year period following the closing of the transaction, which was announced on
June 10, 2019
. The share-
based payment schedule and amounts to exercise the option will remain unchanged. Post the issuance of the
June
2020
share-based payment, 1,916,667 shares, Aurion will hold 14.9% of Strategic. In addition, Strategic and
Aurion have simplified the agreement by changing it from two separate earn-in options to just one option to earn
100%. Strategic will now own 100% of the project after the last scheduled share payment in
June 2022
.
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.
View original content:
http://www.prnewswire.com/news-releases/strategic-resources-revises-terms-of-silasselka-earn-in-301078369.html
SOURCE
Strategic Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2020/17/c6977.html
%SEDAR: 00021914E
For further information:
Scott Hicks, [email protected], T: +1 604 646 1890
CO: Strategic Resources Inc.
CNW 07:30e 17-JUN-20