Business
Strategic Resources announces non-brokered private placement
Feb. 7, 2011 (Canada NewsWire Group) -- TSX.V:UVR REGINA, Feb. 7 /CNW/ - Strategic Res...
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\n Feb. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX.V:UVR\n\n\nREGINA, Feb. 7 /CNW/ - Strategic Resources Inc. ("Strategic" or "the Corporation"), announces that it is undertaking a non-brokered private placement\n consisting of up to 6,800,000 units (the "Units") at a price of $0.11\n per Unit to qualified investors, to raise up to $748,000. Each Unit\n consists of one common share and one share purchase warrant exercisable\n into an additional common share of the Company at a price of $0.16 per\n share in Year 1 and $0.21 per share in Year 2.\n\n\nInsiders may subscribe for up to $220,000 of the Offering representing\n up to 2,000,000 Units. The insider private placements are exempt from\n the valuation and minority shareholder approval requirements of\n Multilateral Instrument 61-101 ("MI61-101") by virtue of the exemptions\n contain in section 5.5(a) and 5.7(1)(a) of MI61-101 in that the fair\n market value of the consideration for the securities of the Corporation\n to be issued to insiders does not exceed 25% of its market\n capitalization.\n\n\nFinders' fees may be paid in accordance with TSX Venture Exchange\n policies. Proceeds of the offering will be used for reclamation bonding\n and for drilling on the Corporation's mineral exploration projects in\n New Mexico, USA.\n\n\nThe completion of the Offering is subject to the approval of the TSX\n Venture Exchange.\n\n\nAbout Strategic Resources\nStrategic Resources ...