Strateco Resources Inc.

Strateco Resources Inc.

August 12, 2013 16:15 ET

Strateco Closes a CDN $ 820,000 Financing

BOUCHERVILLE, QUEBEC--(Marketwired - Aug. 12, 2013) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to announce that it has closed a CDN $822,319 non-brokered private placement subscribed for by an insider, The Sentient Group ("Sentient"), a private independent natural resource equity fund. The private placement consisted of 16,446,389 common shares issued at a price of $0.05 per share.

Sentient also received an additional 328,927 shares, or 2% of the gross proceeds of the placement, as a transaction fee.

The securities issued pursuant to the private placement are subject to a hold period of four months plus one day following the closing.

Strateco will use the proceeds of the financing, among other things, to pursue the legal action initiated in connection with its Matoush uranium project, to obtain the final provincial certificate of authorization required to start the underground exploration phase. Strateco has received all the other provincial and federal permits needed for the project.

Guy Hébert, Strateco's President and Chief Executive Officer, wishes to underscore the significant support from Sentient, which reflects its confidence in the legal measures being undertaken by Strateco.

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.

Contact Information