Strata-X Energy Ltd. Arranges Private Placement
June 23 2014 - 9:37AM
Marketwired
Strata-X Energy Ltd. Arranges Private Placement
DENVER, COLORADO and BRISBANE, QUEENSLAND and VANCOUVER, BRITISH
COLUMBIA--(Marketwired - Jun 23, 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 Helmsec
Global Capital Limited and BBY Ltd (together the Joint Lead
Managers or JLMs) are leading a private placement to sophisticated
and institutional investors of up to 6.43 million Chess Depository
Interests (CDIs) in the Company at a price of AUD$0.28 per CDI for
gross proceeds of up to approximately AUD$1.8 million (Placement).
Each CDI will represent one common share of Strata-X and will rank
equally with existing CDIs. All CDIs issued pursuant to the
Placement are to be fully tradable and listed on the Australian
Securities Exchange.
The Placement is being completed in accordance with the
Company's placement capacity pursuant to the ASX Listing Rules. The
proceeds from this Placement will be used to deliver on the current
acquisition and work plan of the Company, continue ongoing
development of its US focused projects and provide general working
capital.
All CDIs issued pursuant to the Placement are to be tradable and
listed on the Australian Securities Exchange (ASX) and Toronto
Venture Exchange (TSX-V), subject to the necessary approvals by the
respective TSX-V and ASX. Strata-X will, subject to regulatory
approval, pay a commission in respect of the Placement to the JLMs
(all being arm's length parties on the Placement).
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
139,785,415 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).
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.com
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