Strateco Closes a CA $15,000,000 Non-Brokered Private Financing

Strateco Resources reports that it has closed the $15 million private financing announced on January 20th, 2010.

The agreement provides for Sentient to subscribe 100,000 units for an amount of $95,000 and $14,905,000 of convertible notes (the “Notes”) accompanied by common share purchase warrants (the “Warrants”). Each unit consists of one common share (a “Share”) of Strateco and one-half of one Warrant. Each tranche of $1,000 in Notes is accompanied by 527 Warrants.

Each Warrant entitles its holder to purchase one Share for $1.00 during a 24-month period following the closing, and for $1.05 during the subsequent period of 24 to 36 months after the closing.

For complete news release, click here.

For Strateco’s company profile, click here.