Strateco Closes a CA$3.5 Million Financing
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 06/23/11 -- Strateco Resources Inc. (Strateco)(TSX: RSC)(FRANKFURT: RF9) is pleased to announce that it has closed a non-brokered flow-through financing with seven qualified investors for a total of CA$3,500,100. The private placement consists of 3,571,571 federal flow-through shares priced at $0.70 each and 1,333,333 Quebec flow-through shares priced at $0.75 each.
Strateco will pay a cash finder's fee of 6% of the gross proceeds of the transaction. All securities issued pursuant to the private placement are subject to a hold period of four months plus one day from closing.
Strateco will use the flow-through proceeds to incur eligible exploration expenses primarily on its Matoush property in Quebec.
Forward-Looking Statements
This news release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Columbia, Alberta, Ontario and Quebec.
The Toronto Stock Exchange did not review or accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450-641-0775 or 1-866-774-7722
450-641-1601 (FAX)
ghebert@bbhgm.com
Strateco Resources Inc.
Jean-Pierre Lachance
Executive Vice President
450-641-0775 or 1-866-774-7722
450-641-1601 (FAX)
jplachance@bbhgm.com
www.stratecoinc.com
Jason Roy
Investor Relations Consultant
647-780-2837
514-240-7662
jroy@stratecoinc.com (FAX)
Renmark Financial Communications Inc.
Maurice Dagenais: mdagenais@renmarkfinancial.com
(514) 939-3989
(514) 939-3717 (FAX)
www.renmarkfinancial.com