Strateco Resources Inc.
TSX : RSC
OTC Bulletin Board : SRSIF
FRANKFURT : RF9

Strateco Resources Inc.

December 08, 2009 13:35 ET

Strateco Closes C$2.5 Million Financing

MONTREAL, QUEBEC--(Marketwire - Dec. 8, 2009) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce the closing of a non-brokered private placement of flow-through common shares with one insider holding more than 10% of the share capital of Strateco through one fund and one accredited investor that are related for an aggregate amount of $2.4M and another accredited investor for an amount of $100,000. The private placement consists of 2,500,000 flow-through common shares issued at the price of $1.00 per share for a total amount of C$2.5 million.

Finder fees of $100,000 will be paid by Strateco. All the securities issued pursuant to the placement are subject to a holding period of four months and one day from the date of closing.

The flow-through proceeds will be used by Strateco to incur eligible exploration expenses on its Matoush project including Matoush, Matoush Extension, Eclat and Pacific Bay - Matoush properties and also on the Mistassini property, all located in Quebec.

This press release has been read and approved by Jean-Pierre Lachance, geol., Executive Vice President of Strateco Resources Inc. who is the qualified person as defined under National Instrument 43-101.

This press 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 Quebec, and in the 10-K annual report filed with the US Securities and Exchange Commission.

Contact Information

  • 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
    or
    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive Vice President
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    jplachance@bbhgm.com
    or
    Strateco Resources Inc.
    Audrey Vezina Angus
    Investor Relations
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    avezina@bbhgm.com
    www.stratecoinc.com