News
Strait Gold closes private placement
January 12, 2010
Strait Gold Corporation ("Strait Gold" or the "Company") is pleased to announce that it has closed the second and final tranche of the private placement announced on November 25, 2009. The Company placed a total of 2,739,000 units for gross proceeds of $273,900. The Company previously announced on December 3, 2009, that it had closed the first tranche of the private placement having placed 2,689,000 units for gross proceeds of $268,000.
Each unit (a "Unit") consisted of one (1) common share of the Company and one half (1/2) of a share purchase warrant (each a "Warrant"). Each full Warrant entitles the holder to acquire an additional common share at the price of $0.15 per share for eighteen (18) months following Closing. The securities issued in the second tranche bear a legend and are restricted from trading until May 12, 2010. An Insider subscribed for 50,000 units. The Company currently has 25,860,436 common shares issued and outstanding.
The proceeds from the offering will be used for working capital and to
fund exploration of its Alicia Property.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-molybdenum property and the Culebrilla gold-silver property, both in Ancash Department approximately 325 km north of Lima. To learn more about Strait Gold, please visit our website at www.straitgold.com.
For further information:
Jim Borland, President
Tel.: 416-223-9970
info@straitgold.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
