Stratton Resources Closes Previously Announced Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) - Stratton Resources Inc. (TSX VENTURE:SI) ("Stratton" or the "Company"), is pleased to announce that it has closed its previously announced non-brokered private placement of 20.3 million common shares at a price of CAD$0.65 per share (the "Offering"). Gross proceeds under the Offering were CAD$13,195,000.
The Company intends to use the net proceeds for precious metal exploration on its projects in Newfoundland, further mineral property acquisitions and general corporate purposes.
The shares under the Offering will be subject to a four-month hold period and will not be registered in the United States. A 5% commission was paid on certain amounts placed by brokers totalling $377,042.
About Stratton Resources: Stratton Resources is a junior mining exploration company focused on delivering shareholder value through project acquisition and development. The Company's principle asset is a large exploration portfolio located in Newfoundland, Canada. The Company's management team is highly experienced with an impressive track record of success in the discovery, development, financing and monetizing of mining assets for shareholders.
On Behalf of the Board,
Shawn Wallace, Chairman and Director
Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Stratton Resources Inc.
Jay Adelaar
Manager of Investor Relations
(778) 729-0500
info@strattonresources.com