TORONTO, CANADA, Apr 29, 2013 (Marketwired via COMTEX) — Stroud Resources Ltd. /quotes/zigman/187367 CA:SDR 0.00% (“Stroud”) announced today plans to raise up to $400,000 in a nonbrokered private placement. Stroud is proposing to offer up to 20,000,000 units at a price of $0.02 per unit, with each unit consisting of one common share and one half of one nontransferable common share purchase warrant. Each whole share purchase warrant will entitle the holder to acquire one common share at a price of $0.05 for a period of 12 months from the closing date of the offering and thereafter at a price of $0.10 until the date that is 24 months from the closing date.
Stroud proposes to pay a 7% cash finder’s fee to registered dealers who procure subscriptions for units. The private placement is proposed to be completed in accordance with the temporary relief measures from certain pricing requirements announced by the TSX Venture Exchange on August 17, 2012 and extended December 12, 2012 and April 12, 2013. The private placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a 4 month hold period.
Stroud proposes to use the net proceeds from this offering to maintain and preserve its existing business and assets, with the exception of up to $50,000 for general working capital.
Stroud is an exploration company focused on the discovery and exploration of silver and gold deposits in Mexico and Ontario. Stroud owns a 100% interest in the Santo Domingo epithermal silvergold project in central Mexico. In addition to the Santo Domingo project, Stroud’s assets include 100% interests in the Hislop gold property, near Timmins, Ontario and the Leckie gold property, near North Bay, Ontario. Stroud also generates cash flow from a 3.75% interest in six natural gas and natural gas condensate wells in central Alberta.
Neither 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:
Stroud Resources Ltd.
Mr. George Coburn
President and CEO
(416) 3624126
[email protected]
www.stroudresourcesltd.com
SOURCE: STROUD RESOURCES LTD.
