Archive 2007
Strait Gold files short-form prospectus
March 15, 2007
Strait Gold Corporation is pleased to announce that it received on March 14, 2007, a receipt for preliminary short-form prospectus dated March 13, 2007, from the securities commissions of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia to raise a minimum of $1,000,000 and a maximum of $2,000,000 through the of Unit of one common share and one-half of a share-purchase warrant. Each full share-purchase warrant will for 18 months from closing. The offering price per Unit, the exercise price for the warrants and the number of Units to be issued pursuant to the Offering will be determined prior to filing the final short form prospectus.
Blackmont Capital Inc. is acting as agent for the Offering and will conditionally offer the Units on a reasonable commercial efforts agency basis. The Company granted an option, exercisable for a period of 30 days from the closing of the Offering, to purchase that number of additional Units equal to 15% of the aggregate number of Units sold in the Offering at the offering price.
Strait Gold intends to use the proceeds from the Offering to fund further exploration at its Culebrilla Project in Peru and for general corporate purposes.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru. Its Culebrilla Project is located in Ancash Department, the same Peruvian jurisdiction that hosts the Pierina gold mine (Barrick Corporation), the Antamina base metals mine (BHP Billiton, TeckCominco and Xstrata Minerals) and numerous other, smaller mining operations. Surface sampling at Culebrilla over an area measuring roughly 3.5x4.0 km has found widespread gold and silver mineralization, plus copper, zinc and lead, with values up to 14.4 g/t gold, 1,365 g/t silver and 2.01% copper. Based on these sampling results and previous artisinal mining on the property the Company plans to conduct the first-ever diamond drilling at Culebrilla in 2007.
To find out more about Strait Gold, please visit our website at www.straitgold.com
