Wed Jan 20, 2010
Strathmore Closes Private Placement Fiancing
STRATHMORE MINERALS CORP. ("Strathmore" or "the Company") (TSX-V: STM) announces it has completed the non-brokered private placement financing, previously announced on January 7, 2010. Gross proceeds totalled C $8,384,050 from the sale of 15,243,727 million Common Share Units at a price of C $.55 per unit. Each Common Share Unit comprises one common share and one-half common share purchase warrant. One full warrant purchases one common share at C $.75 for a period of two years. Two Directors participated in this financing.
A cash finder's fee of 6% of the gross proceeds will be paid and the Company will grant the finder a 2 year agent's warrant to purchase shares at C $.75 per share based on 6% of the units sold in the offering.
The Common Shares will be subject to resale restrictions for a period of four months ending May 21, 2010.
The net proceeds from this offering will be used to advance the development of the Company's uranium projects in New Mexico and Wyoming and for general working capital.
STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of advanced uranium properties in the United States. Headquartered in Kelowna, British Columbia, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "STM".
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Common Share units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
ON BEHALF OF THE BOARD
"David Miller"
David Miller, CEO
For Investor Relations:
Craig Christy
1-800-647-3303
info@strathmoreminerals.com
www.strathmoreminerals.com
