Strateco Receives CDN $3 Million
December 23, 2013 (Source: Marketwired) — Strateco Resources Inc. (“Strateco”) (TSX:RSC)(FRANKFURT:RF9) is pleased to report the closing last Friday of the transaction announced on December 10, 2013, with an insider, The Sentient Group (“Sentient”), a private independent natural resource equity fund. The agreement relates to a new $3 million loan and amendments to a $14,905,000 convertible note agreement dated January 2010 (the “Transaction”).
Among other things, the Transaction enabled the signing of an agreement with Denison Mines Corp. on December 16, 2013, to acquire an interest of up to 60% in the Jasper Lake project in Saskatchewan. Moreover, the Transaction will enable Strateco to maintain the Matoush project, acquire uranium properties outside Québec and pursue legal proceedings for the issuance of the provincial certificate of authorization for the Matoush project.
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. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco’s annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>