Strategic Metals to Sell Royalty Interests for US$30 Million With Provisional Increase to US$36 Million
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/03/12 -- Strategic Metals Ltd. (TSX VENTURE: SMD) ("Strategic") announces that pursuant to the terms of an August 1, 2012 royalty purchase agreement, Strategic will sell its royalty interests in three advanced mineral projects to 8248567 Canada Limited, an arm's length purchaser, for up to US$36 million. The three royalty interests being sold are:
The sale proceeds to be received by Strategic will consist of:
This transaction is subject to TSX Venture Exchange acceptance and is expected to close on or about August 9, 2012.
For additional information concerning Strategic Metals Ltd. please visit Strategic's website at .
About Strategic Metals Ltd.
Strategic is a pre-eminent explorer and claimholder in the Yukon, with an exceptional portfolio of more than 160 property and royalty interests. Strategic also owns marketable shares of other resource companies, including 9.6% of ATAC Resources Ltd., 18.8% of Silver Range Resources Ltd., 28.0% of Rockhaven Resources Ltd, 19.9% of Precipitate Gold Corp., and 19.9% of Wolverine Minerals Corp.
CAUTIONARY NOTE: This news release includes certain "forward-looking statements" including completion of the royalty sale and payment of the additional US$6 million. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Strategic are those risks described herein and from time to time, in the filings made by Strategic with Canadian securities regulators. Those filings can be found on the Internet at .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
(604) 688-2568
Strategic Metals Ltd.
Bruce A. Youngman
Chairman
(604) 687-2522
Strategic Metals Ltd.
Richard Drechsler
Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
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Unternehmensinformation / Kurzprofil:
Datum: 03.08.2012 - 12:30 Uhr
Sprache: Deutsch
News-ID 171534
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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