Business
StrikePoint Gold Inc. private placement notice
StrikePoint Gold Inc. private placement notice
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"\n\n\n\nDec. 8, 2009 (Canada NewsWire Group) -- CALGARY, Dec. 8 /CNW/ -- StrikePoint Gold Inc. (\"StrikePoint\") (TSXV: SKP) announces that two directors of StrikePoint have sold in open market transactions on the TSX Venture Exchange a total of 1,360,000 shares to arms-length parties during the period November 17 to November 25, 2009 and exercised outstanding warrants and options to purchase a total of 1,850,000 shares from StrikePoint's treasury. Moreover, the two directors are subscribing for approximately 675,000 shares of the proposed brokered private placement financing announced in StrikePoint's news releases dated November 26 and November 30, 2009.Richard Boulay, CEO and Director of StrikePoint sold a total of 775,000 shares and purchased 500,000 shares by means of option exercise, 600,000 shares by means of warrant exercise and is subscribing for 425,000 flow-though shares in the proposed private placement. Arness Cordick, a director of StrikePoint sold a total of 585,000 shares and purchased 500,000 shares by means of option exercise, 250,000 shares by means of warrant exercise and is subscribing for the purchase of 250,000 flow-through shares in the proposed private placement.The purchase of shares by the two directors constitutes a \"related party transaction\" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions. The transaction however will be exempt from applicable formal valuation and minority shareholder approval requirements as the fair market value of the shares does not exceed 25% of the market capitalization of StrikePoint.StrikePoint has 106,146,652 common shares outstanding, and trades on the TSX Venture Exchange under the symbol SKP.Forward-looking StatementsThis press release contains forward-looking statements. Any statements that are contained in this press release that are not statements of historical fact may be considered forward-looking statements. Forward-looking statements are often identified by terms such as \"may\", \"should\", \"anticipate\", \"expects\" and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to statements concerning the anticipated private placement and the involvement of the directors and officers therein. Although StrikePoint believes that the...