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Strategic Resources Announces Vanadium Project Acquisitions and Financing
Strategic Resources Announces Vanadium Project Acquisitions and Financing Canada N...
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\nStrategic Resources Announces Vanadium Project Acquisitions and Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 24, 2019\n\n\n\nVANCOUVER, April 24, 2019 /CNW/ - Strategic Resources Inc. (TSXV: STI) (the \"Company\" or \"Strategic\") is pleased to announce signing two separate earn-in agreements to acquire 100% of the Silasselkä Project owned by Aurion Resources (\"Aurion\") and 100% of the Akanvaara Project owned by Magnus Minerals (\"Magnus\") (the \"Acquisitions\") on April 10, 2019. Both projects are located in northern Finland and have historical drilling on them. The Acquisitions constitute Fundamental Acquisitions under the TSX Venture policies and are both arm's length agreements. In addition to the Acquisitions, the Company has also submitted applications in Peru to stake approximately 11,700 hectares of prospective vanadium claims.\n\n \n \n\n \nIn connection with the Acquisitions the Company will be completing a non-brokered private placement financing of up to approximately 16.1 million shares at a price of $0.23 per share, for aggregate gross proceeds of up to $3.7 million (the \"Offering\"). The use of proceeds will be to fund the cash portion of the acquisitions, exploration expenditures, repayment of debt and for general corporate purposes and working capital. Post the closing of the Offering, Aurion and Magnus will own 9.6% and 8.0% of Strategic respectively.\nUpon the closing of the Acquisitions and the Offering, Mark Tommasi, Steven Brassard and Blair McIntyre will step down as CEO & Director, CFO and Director respectively. Scott Hicks ...