Sentient and Toro Energy Sign an Agreement Regarding Strateco
(firmenpresse) - BOUCHERVILLE, QUEBEC -- (Marketwired) -- 11/03/14 -- Strateco Resources Inc. ("Strateco") (TSX: RSC)(FRANKFURT: RF9) is pleased to announce that it has given its consent to a transaction between The Sentient Group ("Sentient") and Toro Energy Limited ("Toro"), an Australian public company with uranium exploration projects in Australia, including the Wiluna project set to become Western Australia's first ever uranium mine following final environment approvals granted April 2013. The transaction involves, among other things, the sale of a substantial portion of Sentient's holdings in Strateco and in SeqUr Exploration Inc. ("SeqUr"), a subsidiary of Strateco, in exchange for shares of Toro.
Toro has acquired from Sentient:
Subsequent to the transaction, Sentient, which held 27.13% of Strateco's share capital, retains approximately an 8% stake in the share capital of Strateco and 800 convertible notes representing an amount of $800,000 secured by a hypothec on Strateco's assets.
Commenting on the transaction, Guy Hebert, President and CEO of Strateco, said that: "We see the arrival of Toro as major shareholder of Strateco as a very positive development. Toro has shown clear interest in the Matoush project, as well as in SeqUr's uranium projects in Saskatchewan. Toro's experience going through permitting the Wiluna project, in an area formerly under moratorium, will certainly be an asset for Strateco".
This news release contains "forward-looking statements" subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
Contacts:
Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450.641.0775 or 1.866.774.7722
450.641.1601 (FAX)
Strateco Resources Inc.
Jean-Pierre Lachance
Executive and Exploration Vice President
450.641.0775 or 1.866.774.7722
450.641.1601 (FAX)
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Datum: 03.11.2014 - 13:31 Uhr
Sprache: Deutsch
News-ID 349009
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contact information:
Town:
BOUCHERVILLE, QUEBEC
Kategorie:
Mining & Metals
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"Sentient and Toro Energy Sign an Agreement Regarding Strateco"
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