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Strategic Resources Upsizes Financing to $2.5 Million
Strategic Resources Upsizes Financing to $2.5 Million Canada NewsWire VANCO...
About this update from Strategic Resources Inc.
[{"type":"text","content":"StrategicPrivatePlcmt\n \n \n \n Strategic Resources Upsizes Financing to $2.5 Million\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Sept. 30, 2020\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION TO\n \n UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Sept. 30, 2020\n \n /CNW/ -\n \n Strategic Resources Inc.\n \n (TSXV: SR) (the \"Company\" or \"Strategic\") is pleased to announce that it has increased the size of its proposed non-brokered private placement previously announced on\n \n September 29, 2020\n \n , to up to 7,170,000 units (\"Units\") at a price of\n \n $0.35\n \n per Unit, for aggregate gross proceeds of up to approximately\n \n $2.5 million\n \n (the \"Offering\"). Each Unit shall be comprised of one common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of\n \n $0.55\n \n per Common Share at any time during the 18-month period following the closing date of the Offering.\n \n \n The use of proceeds will be to fund the Mustavaara Preliminary Economic Assessment, drilling of the Silasselkä project and for general corporate purposes and working capital. The Offering is scheduled to close on or about\n \n October 20, 2020\n \n (the \"Closing Date\") and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.\n \n \n The shares issued under the Offering will be subject to a statutory hold period in\n \n Canada\n \n of four months and one day following the Closing Date.\n \n \n The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securiti...