Stratton Resources Inc. (TSX-V:SI) is pleased to announce that it has closed its previously announced non-brokered private placement of 20.3 million common shares at a price of CAD$0.65 per share. Gross proceeds under the Offering were CAD$13,195,000.
The Company intends to use the net proceeds for precious metal exploration on its projects in Newfoundland, further mineral property acquisitions and general corporate purposes.
The shares under the Offering will be subject to a four-month hold period and will not be registered in the United States. A 5% commission was paid on certain amounts placed by brokers totalling $377,042.
About Stratton Resources:
Stratton Resources is a junior mining exploration company focused on delivering shareholder value through project acquisition and development. The Company’s principle asset is a large exploration portfolio located in Newfoundland, Canada. The Company’s management team is highly experienced with an impressive track record of success in the discovery, development, financing and monetizing of mining assets for shareholders.
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