|By Marketwired .||
|May 12, 2014 11:06 AM EDT||
BOUCHERVILLE, QUEBEC -- (Marketwired) -- 05/12/14 -- Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) announced today that the Toronto Stock Exchange ("TSX") has once again extended its review of the eligibility of the Company's common shares for continued listing, for a period of 30 days.
Following Strateco's announcement of May 9, 2014, regarding the signature of two agreements totalling $1.5 million with Sentient Executive GP IV, Limited (for the general partner of Sentient Global Resources Fund IV, LP) (ref. Strateco press release dated May 9, 2014), the TSX has granted Strateco a 30-day extension to give its shareholders the opportunity to approve the private placements at Strateco's Annual and Special Meeting to be held May 27, 2014. Strateco is confident that the shareholders' approval will enable it to maintain its TSX listing.
Note that the TSX has been reviewing the eligibility of Strateco's common shares for listing under the continued listing requirements since December 17, 2013. Strateco's review is taking place in accordance with the remedial review process.
Strateco intends to use the additional time to demonstrate that with its shareholders' support, it has restored its financial health sufficiently to warrant the continued listing of its shares, which have traded on the TSX since June 2007.
This news release contains "forward-looking statements" subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.