Thu, December 27, 2012
Wed, December 26, 2012
Tue, December 25, 2012
Mon, December 24, 2012
Fri, December 21, 2012
[ Fri, Dec 21st 2012 ] - Market Wire
Remo Resources Inc. Closes IPO
Thu, December 20, 2012
Wed, December 19, 2012
[ Wed, Dec 19th 2012 ] - Market Wire
Closes Initial Public Offering
Tue, December 18, 2012
[ Tue, Dec 18th 2012 ] - Market Wire
3.81 g/t Au Over 41 Meters
Mon, December 17, 2012

Strateco Closes $3,000,000 Bridge Loan


//stocks-investing.news-articles.net/content/2012/12/20/strateco-closes-3-000-000-bridge-loan.html
Published in Stocks and Investing on Thursday, December 20th 2012 at 10:31 GMT by Market Wire   Print publication without navigation


December 20, 2012 13:05 ET

Strateco Closes $3,000,000 Bridge Loan

BOUCHERVILLE, QUEBEC--(Marketwire - Dec. 20, 2012) - Strateco Resources Inc. ("Strateco" or the "Company") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that it has closed a $3 million bridge loan with an accredited investor, The Sentient Group ("Sentient"), an insider of the Company.

The loan is secured and must be repaid within 10 business days from the receipt by Strateco of the 2012 tax credits for resources, or at the latest, by December 10, 2013. The loan bears interest at an annual rate of 10%. The funds, to be disbursed in two installments, will be used toward the working capital of the Company.

In connection with the loan, Strateco issued 1,500,000 common share purchase warrants to Sentient. Each warrant entitles the holder to acquire one common share of Strateco for 30 months at a price of $0.24 per share. Strateco also issued 549,451 common shares to Sentient at the price of $0.182 per share representing $100,000 as transaction fees. Each common share is subject to a resale restriction of four months.

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 Alberta, British Columbia, Ontario and Québec.




Publication Contributing Sources