Strata-X Energy Ltd Closes Placement Raising A$1.821 Million
27 June 2014 - 10:30PM
Marketwired
Strata-X Energy Ltd Closes Placement Raising A$1.821 Million
DENVER, COLORADO and BRISBANE, QUEENSLAND AUSTRALIA and
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 27, 2014) - The
Directors and management of Strata-X Energy Ltd. ("Strata-X" or the
"Company") (TSX-VENTURE:SXE)(ASX:SXA) are pleased to announce that
the Company has closed the private placement as announced on June
23, 2014. The private placement ("Placement") consisted of
6,503,554 CDIs (representing 6,503,554 common shares) to raise
A$1,820,995 million at a price of A$0.28 per CDI. The Placement
represents approximately 4.7% of the Company's issued capital (pre
Placement). Quotation of the CDIs on the ASX will occur on June 30,
2014 (Australian time).
Proceeds from the Placement will be used primarily on appraisal
programs on Strata-X's three key USA projects and for general
corporate purposes.
The capital raising was jointly led by BBY Limited and Helmsec
Global Capital Limited (Joint Lead Managers or JLMs). The JLMs will
be paid a cash commission of $97,260 and 162,100 broker warrants.
Each broker warrant allows the JLMs to purchase one CDI of the
Company at a price of A$0.50 for a period of 3 years from the date
of closing. The Placement is subject to exchange (TSX-V)
acceptance. All of the securities issued pursuant to this offering
will have a hold period in Canada expiring on October 30, 2014.
About Strata-X
Strata-X is a Denver, Colorado (USA) based company and is
engaged in the business of oil and gas exploration and development
with a variety of exploration opportunities in North Dakota,
California, Texas, Illinois and Western Australia and production
and development opportunities in California. Strata-X has
146,288,969 common shares outstanding and trades under the symbol
"SXE" on the TSX-V and "SXA" on the ASX.
This announcement was made in Canada for the TSX.V and in
Australia for the ASX.
Public documents for Strata-X Energy Ltd. can be found at
SEDAR (Canada) (www.sedar.com) and ASX.com.au (Australia).
By definition of the COGE Handbook - "Undiscovered resources
are those quantities of oil and gas estimated on a given date to be
contained in accumulations yet to be discovered." The Handbook
further states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is
no certainty that any portion of the resources will be discovered.
If discovered, there is no certainty that it will be commercially
viable to produce any portion of the resources." In addition, per
NI 51-101/5.6 "the estimated values disclosed do not represent fair
market value."
CAUTIONARY STATEMENTS
This news release contains forward-looking statements, which
relate to future events or future performance and reflect
management's current expectations and assumptions. The use of any
of the words "anticipate", "continue", "estimate", "expect", 'may",
"will", "project", "should", 'believe", and similar expressions is
intended to identify forward-looking statements. Such
forward-looking statements reflect management's current beliefs and
are based on assumptions made by and information currently
available to the Company. Readers are cautioned that these
forward-looking statements are neither promises nor guarantees, and
are subject to risks and uncertainties that may cause future
results to differ materially from those expected and the
forward-looking statements included in this news release should not
be unduly relied upon. See "Risks and Uncertainties" in the
Company's Filing Statement dated August 30, 2011 available on SEDAR
at www.sedar.com. These forward-looking statements are made as of
the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances save
as required under applicable securities legislation. This news
release does not constitute an offer to sell securities and the
Company is not soliciting an offer to buy securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
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.
Strata-X Energy Ltd.Tim Hoops (USA)President+1
855-463-2400info@strata-x.comStrata-X Energy Ltd.Colin Christensen
(Canada)Investor Relations+1 403-483-8363colin@strata-x.comStrata-X
Energy Ltd.Duncan Cornish (Australia)Corporate Secretary+61 7
3212-6299dcornish@strata-x.comwww.strata-x.com
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