Strait Gold Closes Final Tranche of Working Capital Offering

trait Gold Corporation (TSXV:SRD) announced that it has placed 8,494,668 working capital units, including 2,800,000 WC Units placed in a first tranche previously announced in a news release dated July 23, 2010, priced at $0.06 per WC Unit for gross proceeds of $509,680.

The press release is quoted as saying:

Each WC Unit consists of one (1) common share (a “WC Share”) and one half (1/2) of a share purchase warrant (a “WC Warrant”). Each full WC Warrant entitles the holder to acquire a further common share of the Company at a price of $0.15 per share until the earlier of: (i) the date which is twenty-four (24) months following the closing; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.30 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day (the “Trigger Date”).

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