Vancouver, British Columbia – Strategic Resources Inc. (TSXV:SR) (the “Company” or “Strategic”) announces that it has revised the terms of the Silasselkä project earn-in with Aurion Resources (“Aurion”). Aurion has agreed to waive the required expenditures on the project totalling C$3.0 million over the three-year period following the closing of the transaction, which was announced on June 10, 2019. The share-based payment schedule and amounts to exercise the option will remain unchanged. Post the issuance of the June 2020 share-based payment, 1,916,667 shares, Aurion will hold 14.9% of Strategic. In addition, Strategic and Aurion have simplified the agreement by changing it from two separate earn-in options to just one option to earn 100%. Strategic will now own 100% of the project after the last scheduled share payment in June 2022.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada based mineral exploration and development company that is focused on vanadium projects in Finland and Peru. The Company continues to evaluate new opportunities that are related to the electrification of the economy.
Further details are available on the Company’s website at https://strategic-res.com/.
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|STRATEGIC RESOURCES INC.|
|For further information contact:|
|Signed: “Scott Hicks”||Scott Hicks|
|Scott Hicks, CEO||T: +1 604 646 1890|
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