🕐20.12.12 - 19:27 Uhr
STRATECO CLOSES $3,000,000 BRIDGE LOAN
Strateco Closes $3,000,000 Bridge Loan
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December 20, 2012 |
Strateco Closes $3,000,000 Bridge Loan
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BOUCHERVILLE, QUEBEC--(Marketwire - Dec.
20, 2012) - Strateco Resources Inc.
("Strateco" or the "Company") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that it has closed a $3 million bridge loan with an accredited investor, The Sentient Group ("Sentient"), an insider of the Company.
The loan is secured and must be repaid within 10 business days from the receipt by Strateco of the 2012 tax credits for resources, or at the latest, by December 10, 2013.
The loan bears interest at an annual rate of 10%.
The funds, to be disbursed in two installments, will be used toward the working capital of the Company.
In connection with the loan, Strateco issued 1,500,000 common share purchase warrants to Sentient.
Each warrant entitles the holder to acquire one common share of Strateco for 30 months at a price of $0.24 per share.
Strateco also issued 549,451 common shares to Sentient at the price of $0.182 per share representing $100,000 as transaction fees.
Each common share is subject to a resale restriction of four months.
This news release contains forward-looking statements subject to certain risks and uncertainties.
There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements.
These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia, Ontario and Quebec. |
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CONTACT INFORMATION: |
Strateco Resources Inc. Guy Hebert President & Chief Executive Officer 450.641.0775 / 1.866.774.7722 Fax: 450.641.1601 or Strateco Resources Inc. Jean-Pierre Lachance Executive & Exploration Vice President 450.641.0775 / 1.866.774.7722 Fax: 450.641.1601 or Strateco Resources Inc. Jason Roy Consultant, Investor Relations 647-780-2837 / 514-240-7662 www.strateco.ca |
INDUSTRY: Manufacturing and Production - Mining and Metals |
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