/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION TO UNITED
STATES/
VANCOUVER, BC, Sept. 29, 2020 /CNW/ - Strategic Resources
Inc. (TSXV: SR) (the "Company" or
"Strategic") announces its intention to undertake a
non-brokered private placement financing of up to 4,285,715 units
("Units") at a price of $0.35 per
Unit, for aggregate gross proceeds of up to $1.5 million (the "Offering"). Each Unit shall be
comprised of one common share of the Company (each, a "Common
Share") and one-half of one Common Share purchase warrant of the
Company (each whole Common Share purchase warrant, a "Warrant").
Each Warrant shall entitle the holder thereof to acquire one Common
Share at a price of $0.55 per Common
Share at any time during the 18-month period following the closing
date of the Offering.
The use of proceeds will be to fund the Mustavaara Preliminary
Economic Assessment and for general corporate purposes and working
capital. The Offering is scheduled to close on or about
October 20, 2020 (the "Closing Date")
and is subject to certain conditions customary for transactions of
this nature, including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture
Exchange.
The shares issued under the Offering will be subject to a
statutory hold period in Canada of
four months and one day following the Closing Date.
The securities to be offered pursuant to the Offering have not
been, and will not be, registered under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act") or any U.S. state
securities laws, and may not be offered or sold in the United States absent registration under
the U.S. Securities Act and all applicable U.S. state securities
laws or compliance with the requirements of exemptions therefrom.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada based mineral exploration
and development company that is focused on vanadium projects in
Finland and Peru. The Company continues to evaluate new
opportunities that are related to the electrification of the
economy.
Further details are available on the Company's website
at https://strategic-res.com/.
To follow future news releases, please sign up
at https://strategic-res.com/contact/.
STRATEGIC RESOURCES INC.
Signed: "Scott Hicks"
Scott Hicks, CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to: the size of the Offering, use of net
proceeds under the Offering, the anticipated Closing Date and the
receipt of all required approvals for the Offering. There is no
assurance the Offering will be completed as described, or at
all. Often, but not always, forward-looking statements or
information can be identified by the use of words such as "will",
"may" and "plans" or variations of those words and phrases or
statements that certain actions, events or results "will" be taken,
occur or be achieved.
SOURCE Strategic Resources Inc.