Stroud Completes Second Tranche of Private Placement
February 21 2008 - 5:30PM
Marketwired
TORONTO, ONTARIO ("Stroud") is pleased to announce that it has
completed the second and final tranche of its previously announced
non-brokered private placement, raising an additional $1,006,005
from the sale of 9,581,000 units at a price of $0.105 per unit.
Each unit consisted of one common share and one-half of one common
share purchase warrant, with each whole warrant entitling the
holder to acquire one common share at a price of $0.15 for a 24
month period. In connection with the second tranche of the
placement, the Company has paid cash finder's fees of $4,040.40 and
issued 38,480 finder's warrants exercisable at $0.15 for a 12 month
period to registered dealers who have arranged for purchasers of
units. All securities issued pursuant to the private placement are
subject to a 4-month hold period. In total, the Company raised
gross proceeds of $1,693,755 from the first and second tranches of
the placement.
Proceeds from the private placement will be used to fund
Stroud's ongoing diamond drilling program on its 100% owned Santo
Domingo silver project in Jalisco, Mexico and for general corporate
purposes.
Stroud is a debt-free exploration company focused on the
discovery and exploration of silver and gold deposits in Mexico and
Ontario. Stroud owns a 100% interest in the Santo Domingo
epithermal silver-gold project in central Mexico. In addition to
the Santo Domingo project, Stroud's assets include 100% interests
in the Hislop gold property, near Timmins, Ontario and the Leckie
gold property, near North Bay, Ontario. Stroud also generates cash
flow from a 3.75% interest in six natural gas, and natural gas
condensate wells in central Alberta.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Stroud Resources Ltd. Mr. George Coburn President and
CEO (416) 362-4126 Email: gcoburn@stroudresourcesltd.com Website:
www.stroudresourcesltd.com
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