Strathmore Minerals Corp.
TSX VENTURE : STM
October 12, 2007 09:01 ET
Strathmore Minerals Corp./Fission Energy Corp.: Spin-Off Valuation
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2007) - Strathmore Minerals Corp. ("Strathmore" or "the Company") (TSX VENTURE:STM) presents the following information summary which provides shareholders with a fair market value for each share of Fission Energy Corp. distributed as per the Company's Plan of Arrangement detailed in the Management Information Circular dated, May 8, 2007. As of the July 13, 2007 Share Distribution Record Date, Strathmore shareholders received one new share of Strathmore Minerals Corp. and .333 shares of Fission Energy Corp. for each previously held share of Strathmore.
Strathmore has determined the fair market value of the distributed shares of Fission on July 17, 2007, the effective date of the Plan of Arrangement involving Strathmore, its security holders and Fission, to be 26.51% of the value of the previously held shares of Strathmore.
Shareholders are reminded that this determination of Fair Market Value is not binding on the Canada Revenue Agency or the US Internal Revenue Service. The above information is not intended to be, nor should it be considered to be legal or tax advice to any particular Shareholder, Option holder, or Warrant holder. Shareholders should consult with their tax advisors and review the Management Information Circular dated May 8, 2007. Additional information regarding income tax considerations can be found on pages 22-35. The Management Information Circular can be found in its entirety on the Company's website www.strathmoreminerals.com and on SEDAR, www.sedar.com.
The information herein contains "forward-looking information" that is based on Strathmore Minerals Corp.'s current expectations, estimates, forecasts and projections. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Strathmore's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to changes in economic conditions or financial markets; changes in input prices; litigation; legislative, environmental and other judicial, regulatory, political, tax, and competitive developments; technological or operational difficulties.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Strathmore Minerals Corp. disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.