October 01, 2008 15:47 ET
MONTREAL, QUEBEC--(Marketwire - Oct. 1, 2008) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that it has closed a non-brokered private placement of flow-through common shares with two funds for aggregate gross proceeds of C$8,000,001.75. The private placement consists of 4,102,565 flow-through common shares issued at a price of $1.95 per share.
Finder fees of 4% of the gross proceeds of the transaction will be paid by Strateco. All the securities issued pursuant to the placement are subject to a hold 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 and Apple properties 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-KSB annual report filed with the US Securities and Exchange Commission.
Strateco Resources Inc.Guy HebertPresident and Chief Executive Officerghebert@bbhgm.comorStrateco Resources Inc.Jean-Pierre LachanceExecutive Vice Presidentjplachance@bbhgm.comorStrateco Resources Inc.Audrey Vezina AngusInvestor Relations450-641-0775 / 1-866-774-7722450-641-1601 (FAX)firstname.lastname@example.org://www.stratecoinc.com
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