VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 19, 2014) - Lucky Strike Resources Ltd. (TSX VENTURE:LKY)(OTCQX:LKYSF) is a member of the Western Athabasca Syndicate Partnership (W.A.S.P.), a preeminent syndicate of four companies created with the express purpose of discovering world class uranium deposits in The Athabasca Basin. The Syndicate recently announced their Q1/Q2 Winter 2014 drilling program will commence March 2014.
To date, approximately $2 Million dollars has been collectively invested in exploration phases which blueprint the highly successful techniques used to discover the Patterson Lake South deposit. Many anomalies coincident with exploration corridors have been identified, and several target areas have been confirmed. Lucky Strike is an integral participant of this Syndicate and has an option to earn a 25% interest in properties bordering Fission and Nexgen.
Lucky Strike announces non-brokered private placements of up to 3,000,000 Flow-Through Dollar units ("FT Units") at $0.10 per unit and 3,000,000 Hard Dollar Units at $0.08 per unit. CDN $300,000 Flow-Through Dollars ("FT Dollars"); and CDN $240,000 Non-Flow ThroughDollars ("Hard Dollars").
The FT Unit are comprised of one common share ("Share") and one half of one (1/2) non-transferable Hard share purchase warrant ("NFT Warrant") at a price of $0.10. Each full NFT Warrant to be exercisable at $0.15 for a period of two years from the date of closing of the Transaction.
The Hard Units are comprised of one common share ("Share") and one (1) non-transferable Hard share purchase warrant ("Hard Warrant") at a price of $0.08. Each Hard Warrant to be exercisable at $0.13 for a period of two years from the closing of the Transaction.
In the event that, at any time the closing price of the outstanding common shares on the exchange is greater than or equal to 35 cents for a period of 15 consecutive trading days, the issuer may, at its option, accelerate the expiry date of the warrants by giving notice to the holders thereof, and, in such case, the warrants will expire on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by the issuer and (ii) the original expiry date.
The Offering is subject to the acceptance of the Exchange. The Company may pay finder's fees in cash and/or securities of the Company in respect of the Offering. All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the Exchange.
The proceeds of the Offering will be used for the exploration of the Patterson Lake Area in the Athabasca Basin region of northern Saskatchewan and for general working capital.
Lucky Strike Resources Ltd., is an exploration company with an option to earn a 25% interest in approximately 700,000 acres of prospective land between five properties in the Athabasca Basin of northern Saskatchewan.
The Company has 45,081,836 shares outstanding. To find out more about Lucky Strike Resources Ltd. (TSX VENTURE:LKY) visit the Company's website at www.luckystrikeresources.com.
On behalf of Management
Lucky Strike Resources Ltd.
Ron Rieder, CEO, President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.