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| Home : Strata-X Announces Filing of Preliminary Prospectus for Proposed $12.0 Million Equity Offering |
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Oct 08
2014 |
Strata-X Announces Filing of Preliminary Prospectus for Proposed $12.0 Million Equity Offering |
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DENVER, COLORADO and BRISBANE, QUEENSLAND and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 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 it has filed and received a receipt for a preliminary short form prospectus in the provinces of British Columbia, Alberta and Ontario, Canada for a new issue of common shares for gross proceeds of up to $12.0 million (the "Offering"). The net proceeds of the Offering are intended to be used by the Company to continue its exploration efforts by drilling up to 5 vertical wells and a contingent horizontal well on the Illinois Basin Oil Projects, drilling up to three additional wells on the Sleeping Giant Gas Project, a completion stimulation and a contingent well on the Maverick Oil Project, lease maintenance and general working capital purposes. The issue price of the common shares and the number of common shares to be issued will be determined in the context of the market. |
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| Source:http://www.marketwired.com/mw/release.do?id=1955894&sourceType=3 |
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