Business
Strata Minerals Releases Annual Audited Financial Statements and Announces Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2013) - Strata Minerals Inc. (TSXV...
About this update from Revival Gold Inc
[{"type":"text","content":"\nStrata Minerals Releases Annual Audited Financial Statements and Announces Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - October 29, 2013) - Strata Minerals Inc. (TSXV: SMP) (\"Strata\" or the \"Company\") announces that it has filed on SEDAR its audited financial statements along with the associated Management Discussion and Analysis for the year ended June 30, 2013. Highlights from the filing include: June 30, 2013 net working capital of $346,322 Exploration expenses for the fiscal year of $830,153 Shares outstanding as of June 30, 2013 totalled 80,806,620 October 29, 2013 working capital of approximately $125,000 Corporate Update The Company announces the completion of a desktop study of historical CRA Exploration (now Rio Tinto) and Electrolytic Zinc Company data in the north-west region of the Company's 80% owned Cardabia Phosphate Project (\"Cardabia\") located near Exmouth in Western Australia. The study indentified a potential target for future exploration of phosphate that had previously been intersected by drill holes AC90CB068 and AC90CB071 conducted by CRA west of the Nabbewarra Syncline in 1989-90.A modest program of follow up exploration was recommended in the study. However, given the early stage and speculative nature of the proposed program, Strata's Board of Directors has determined that it would not be in the best interests of the Company to pursue the proposed program at this time. Strata remains focused on its objective to acquire and advance potential economic phosphate projects. In addition to Cardabia, the Company has identified, and is evaluating, other phosphate properties and projects, in Australia and elsewhere, for possible acquisition.Strata further announces that it has completed a loan transaction under which the Company has borrowed $50,000 by way of a demand loan with interest on the loan accruing at the rate of 10% per annum, supplementing the Company's current working capital noted above. Payment of principal and interest is due on maturity. The lender is a director and officer of the Company. Proceeds of the loan will be used for general working capital purposes.\"Hugh Agro\" Chairman For further information, please contact: Brent Lokash, EVP & CFO Tel: 1 604 862-5190 Email: [email protected] About Strata Minerals Inc. Strata Minerals Inc. is an emerging agric...