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Strata Minerals Inc. (TSXV:SMP) announced its has executed a non-binding letter of intent with beckettbank Corp., made changes to its board and management as well as withdrawn the private placement it announced on March 3.
As quoted in the press release:
beckettbank Corp. is affiliated with Toronto-based wealth management company, Beckett Wealth Management Inc. Under the terms of the beckettbank LOI the Company will change its name to beckettbank and broaden the scope of the business to become a small-cap, merchant bank/private equity fund which will invest a minimum of 60% of its assets in companies at the time they enter the Richmond Club Index. The new business strategy will see the Company continue to advance the Diamond Mountain phosphate project in Utah as well as make new investments in other attractive small cap companies and assets.
Strata would like to announce the following board and management changes:
- Jason Bahnsen, a Director of beckettbank Corp., has resigned from his position as Chief Executive Officer and Director of the Company effective May 11, 2015;
- Kal Malhi has resigned from his position as Director effective May 11, 2015;
- Gordon Tainton has resigned from his position as Director effective May 11, 2015;
- Hugh Agro will remain a Director of the Company and is immediately appointed as Interim CEO;
- Adam Rochacewich will remain as Chief Financial Officer and Company Secretary during the transition period; and Peter Kozicz and Richard Kelertas will remain as Directors of the Company
Click here to read the Strata Minerals Inc. (TSXV:SMP) press release
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