TORONTO, May 10, 2023 (GLOBE NEWSWIRE) — Stroud Resources Co., Ltd. (TSXV: SDR) (“Stroud” again “company”) has announced a private, unbrokered placement to raise up to $1,500,000 CAD.
The Company is proposing to issue convertible debentures in an aggregate aggregate amount of up to C$1,500,000. The convertible bonds bear interest at 14% and mature 90 days from issuance. At maturity, convertible bonds are converted into units (seeunit”) $0.10 per unit. Each unit will consist of one share of common stock and one common stock purchase warrant, each warrant exercisable for one share of common stock at a price of $0.10 for three years from closing.
If, on twenty (20) consecutive trading days on the TSX Venture Exchange (“Exchange” or “TSXV”), the closing price of our common stock on the exchange is equal to or greater than $0.30, we may, at our option, Provide holders with written notice (“Notice”) requiring them to exercise these Warrants within thirty (30) days, or else these Warrants will expire immediately thereafter, and thereafter expire at 5:00 p.m. shall be shortened to 30 afternoon (Toronto time) after receipt of notice by holder (“Exercise Period”).
All securities are subject to a four month hold period from the closing date. Private placements are subject to TSXV approval.
Proceeds raised through the issuance of units will be used for general working capital purposes.
About Stroud Resources
Stroud Resources is a TSXV listed company (TSXV: SDR) focused on the exploration and development of the Santo Domingo Thermal Mercury Project in central Mexico.
For more information, see: www.stroudsilver.com or contact Mirsad Jakubovic, Chief Financial Officer of Stroud Resources Ltd. at 1-416-888-8731. This email address is being protected from spambots. JavaScript must be enabled to view..
TSX VENTURE EXCHANGE has not checked and is not responsible for sufficiency or accuracy. of this release.
The information contained herein contains “forward-looking statements” in the applicable sense. Securities law. Forward-looking statements relate to information based on the following assumptions. Management, projections of future results, and estimates of amounts that cannot yet be determined. Statements that represent projections, expectations, beliefs, plans, projections, objectives, assumptions, or future events or performance may be “forward-looking statements” and not statements of historical fact.
Forward-looking statements are subject to various risks and uncertainties that could cause actual events to occur. This includes, but is not limited to, risks and uncertainties related to interpretation of drilling results, geology, deposit grade and continuity.
should do it one again more Actual results may not be realized if these risks and uncertainties materialize or the underlying assumptions prove incorrect. They may differ materially from those set forth in the forward-looking statements.investors are warned Attribution Excessive certainty To Positive statement. These forward-looking statements are made as of the date hereof and we undertake no obligation to update or revise them to reflect new events or circumstances. Actual events or results may differ materially from our expectations and projections.
