Strata Minerals Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 4, 2015) - Strata Minerals Inc. (TSXV: SMP) ("Strata" or the "Company") is pleased to announce the closing of the non-brokered private placement announced on January 29, 2015. 1,790,000 common shares of the Company were issued at a price of $0.10 per common share for gross proceeds of $179,000. The net proceeds of the private placement will be used for general working capital purposes. All securities issued on closing of the private placement are subject to a four month plus one day hold period. No finder's fees or commissions were paid in connection with closing of the Private Placement.
Strata's directors and officers subscribed for 1,565,000 common shares under the private placement. As a result, the issuance of common shares to these insiders is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Strata is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101.
Subsequent to the private placement, the number of common shares of the Company issued and outstanding is 24,323,996.
For further information, please contact:
Jason Bahnsen, President and CEO
Tel: +1 647 986 7542
Email: j.bahnsen@strataminerals.com
About Strata Minerals Inc. Strata Minerals Inc. is an emerging, phosphate focused, agricultural nutrient company exploring for commercial-scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the US and global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration project in Utah, USA and pursuing other opportunities in the bulk commodities market. For further information, please refer to the Company's website at www.strataminerals.com. Additional disclosure of the Company's financial statements, technical reports, material change reports, news releases and other information can be obtained on SEDAR at www.sedar.com.
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 news release.
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