Stria Capital Inc. Announces Closing of Qualifying Transaction and Concurrent Private Placement
06 Dezember 2013 - 10:15PM
Marketwired
Stria Capital Inc. Announces Closing of Qualifying Transaction and
Concurrent Private Placement
OTTAWA, ONTARIO--(Marketwired - Dec 6, 2013) - Stria Capital
Inc. ("Stria") (TSX-VENTURE:SRA.P), a Capital Pool Company ("CPC")
trading on the TSX Venture Exchange (the "Exchange"), is pleased to
announce the closing of its previously announced qualifying
transaction (the "QT") with Khalkos Exploration Inc. ("Khalkos")
and private placement for gross proceeds of $25,000 (the
"Offering") (for more information on the QT and terms and
conditions of the Offering, please consult Stria's filing statement
dated October 29, 2013 available on SEDAR at www.sedar.com).
Qualifying Transaction
The QT consists of an option (the "Option") to acquire Khalkos'
100% interest in 70 mining claims totalling approximately 3,718
hectares, located in the James Bay Territory of Northern Québec and
known as the Pontax-Lithium property (the "Property").
Under the terms of the Option, Stria will acquire all of
Khalkos' rights, title and interest in the Property for the
following consideration:
(a) |
Cash
payment of $100,000 to Khalkos; and |
(b) |
The
issuance of 833,333 common shares of Stria to Khalkos. |
Private Placement
Stria proceeded today with the closing of the Offering for gross
proceeds of $25,000, and consisted of the sale and issuance of (i)
83,333 common shares at a price of $0.30 per common share. The
Offering closed concurrently with and was conditional on the
completion of the QT. The QT was also conditional on the closing of
the Offering. The Offering was not conducted through an
intermediary. All securities issued in connection with the closing
of the QT and the Offering are subject to a regulatory four (4)
month hold period ending on April 7, 2014. The QT and Offering are
subject to the final approval of the Exchange.
About Stria Capital Inc.
Stria is a CPC within the meaning of the policies of the
Exchange. Stria commenced operations when it completed its initial
public offering on February 6, 2012. Trading of Stria's common
shares on the Exchange is currently halted. It is anticipated that
the common shares of Stria will begin trading on the Exchange
shortly after the issuance of the Exchange's final Bulletin. Once
the QT and the Offering are duly completed, Stria will commence
operations as a Tier 2 mining issuer focused on the exploration of
the Property.
Forward-Looking Statements
The statements used in this press release may contain
forward-looking statements, and are based on the opinions and
estimates of management, or on opinions and estimates provided to,
and accepted by, management. These opinions and estimates are used
by management, and speak only as of the date of this press release.
Forward-looking statements in this press release include, but are
not limited to, the closing of the QT and the anticipated benefits
from the QT. Forward-looking statements involve significant known
and unknown risks, uncertainties and assumptions, including with
respect to the closing of the QT, the timing and receipt of all
applicable regulatory approvals and third party consents, the
anticipated benefits from the QT and the satisfaction of other
conditions to the completion of the QT. Forward-looking statements
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ,
possibly significantly. Although Stria believes that its
expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual events or results will be
consistent with these forward-looking statements. Except as
required by applicable law, Stria does not undertake, and
specifically disclaims, any obligation to update or revise any
forward-looking information, whether as a result of new
information, future developments or otherwise. Readers are
therefore cautioned not to place undue reliance on any
forward-looking statements.
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 release.
Stria Capital Inc.Gary EconomoPresident and Chief Executive
Officer613-447-8521geconomo@striacapital.com
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