Stratton Resources Closes Previously Announced Private Placement
VANCOUVER, BRITISH COLUMBIA--(Feb. 27, 2017) -Stratton Resources Inc. (TSX VENTURE:SI) ("Stratton" or the "Company"), 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 (the "Offering"). 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.
- Published: 27 February 2017
- Written by Editor