Stroud Resources Ltd. Announces Private Placement
10 Mai 2023 - 7:12PM
Stroud Resources Ltd. (TSXV: SDR) (“
Stroud” or
“
Company”) announces a non-brokered private
placement to raise up to C$1,500,000.
The Company proposes to issue Convertible
Debentures for gross proceeds of up to C$1,500,000. The Convertible
Debentures bear interest of 14% and mature 90 days from issue. On
Maturity, the Convertible Debentures convert to units (the
“Units”) at $0.10 per Unit. Each Unit will
comprise one common share and one common share purchase warrant,
with each warrant exercisable into one common share at a price of
$0.10 for a period of three (3) years from closing.
If, over a period of 20 consecutive trading days
on the TSX Venture Exchange (the “Exchange” or “TSXV”), the closing
price of the Company’s common shares on the Exchange is at or
exceeds $0.30, then the Company may, at its option, provide written
notice (the “Notice”) to the Holder requiring that these Warrants
be exercised within 30 days of the date of the Notice, failing
which these Warrants shall immediately thereafter expire, then the
Expiry Time shall be accelerated to 5:00 p.m. (Toronto time) on the
30th day following receipt of the Notice by the Holder (the
“Exercise Period”).
All securities will be subject to a four-month
hold period from the closing date. The private placement is subject
to the approval of the TSXV.
Proceeds raised through the issue of Units will
be used for general working capital purposes.
About Stroud Resources
Ltd.Stroud Resources is a TSXV listed company (TSXV: SDR)
focused on the exploration and development of its Santo Domingo
epithermal silver project in central Mexico.
For more information, please
visit www.stroudsilver.com or contact Mirsad Jakubovic,
Chief Financial Officer, Stroud Resources Ltd., Tel:
1-416-888-8731, mirsad@cpamba.ca.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED
AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF
THIS RELEASE.
The information contained herein contains
“forward-looking statements” within the meaning of
applicable securities legislation. Forward-looking statements
relate to information that is based on assumptions
of management, forecasts of future results, and estimates of
amounts not yet determinable. Any statements that express
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance are not statements of
historical fact and may be “forward-looking statements”.
Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the
forward-looking statements, including, without limitation, risks
and uncertainties relating to the interpretation of the drill
results, geology, grade and continuity of mineral deposits.
Should one or more of these
risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements.
Investors are cautioned
against attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances. Actual events or results could
differ materially from the Company’s expectations or
projections.
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