Strathmore Minerals Sells $8 million In Shares (13.9%) to Korean Electric At .55

Becoming a leading uranium producer in the United States

Taking deposits into production in New Mexico and Wyoming

Reply New Message

Prev Message Back To Forum Threaded View Next Message

AGORACOM-GT

Rank: Administrator [?]

Points: 12549 [?]

Votes: 259 Score: 4.0 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Strathmore Minerals Sells $8 million In Shares (13.9%) to Korean Electric At .55

posted on Feb 02, 2012 09:27AM

MY NOTE: Deal Done At .55 ... Stock Is Trading At .48 ... Good Deal For Shareholders

Strathmore Minerals Corp. (TSX:STM) is raising $8 million by selling 13.9 per cent of the company to Korea Electric Power Corp.

Under the agreement, Strathmore is selling the Korean company almost 14.6 million shares at 55 cents each.

Strathmore says the proceeds will allow it to develop its Gas Hills Uranium properties in Wyoming.

In addition, the agreement contains a provision whereby KEPCO has the right to buy a portion of any future annual uranium production from Strathmore's properties.

Future off-take uranium purchases shall be determined by KEPCO's equity ownership in Strathmore.

"Strathmore is pleased to welcome KEPCO as a new valued shareholder and partner," said Strathmore CEO David Miller.

"KEPCO is known for their leadership and foresight in providing long-term solutions for the development of safe and reliable nuclear power."

1 Recommendations

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Please to post a reply