Lucky Strike Announces Financings for Drill Testing of Option Interest in Uranium Exploration Properties Proximalto Nexgen & ...
February 19 2014 - 3:09PM
Marketwired
Lucky Strike Announces Financings for Drill Testing of Option
Interest in Uranium Exploration Properties Proximalto Nexgen and
Fission
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 19, 2014) -
Lucky Strike Resources Ltd. (TSX-VENTURE:LKY)(OTCQX:LKYSF) is a
member of the Western Athabasca Syndicate Partnership (W.A.S.P.), a
preeminent syndicate of four companies created with the express
purpose of discovering world class uranium deposits in The
Athabasca Basin. The Syndicate recently announced their Q1/Q2
Winter 2014 drilling program will commence March 2014.
To date,
approximately $2 Million dollars has been collectively invested in
exploration phases which blueprint the highly successful techniques
used to discover the Patterson Lake South deposit. Many anomalies
coincident with exploration corridors have been identified, and
several target areas have been confirmed. Lucky Strike is an
integral participant of this Syndicate and has an option to earn a
25% interest in properties bordering Fission and Nexgen.
Lucky Strike
announces non-brokered private placements of up to 3,000,000
Flow-Through Dollar units ("FT Units") at $0.10 per unit and
3,000,000 Hard Dollar Units at $0.08 per unit. CDN $300,000
Flow-Through Dollars ("FT Dollars"); and CDN $240,000 Non-Flow
ThroughDollars ("Hard Dollars").
The FT Unit are
comprised of one common share ("Share") and one half of one (1/2)
non-transferable Hard share purchase warrant ("NFT Warrant") at a
price of $0.10. Each full NFT Warrant to be exercisable at $0.15
for a period of two years from the date of closing of the
Transaction.
The Hard Units are
comprised of one common share ("Share") and one (1)
non-transferable Hard share purchase warrant ("Hard Warrant") at a
price of $0.08. Each Hard Warrant to be exercisable at $0.13 for a
period of two years from the closing of the Transaction.
In the event that,
at any time the closing price of the outstanding common shares on
the exchange is greater than or equal to 35 cents for a period of
15 consecutive trading days, the issuer may, at its option,
accelerate the expiry date of the warrants by giving notice to the
holders thereof, and, in such case, the warrants will expire on the
date which is the earlier of: (i) the 30th day after the date on
which such notice is given by the issuer and (ii) the original
expiry date.
The Offering is
subject to the acceptance of the Exchange. The Company may pay
finder's fees in cash and/or securities of the Company in respect
of the Offering. All securities issued to purchasers and finders
under the Offering will be subject to a four-month hold period from
the date of issuance of the securities, pursuant to applicable
securities legislation and the policies of the Exchange.
The proceeds of the
Offering will be used for the exploration of the Patterson Lake
Area in the Athabasca Basin region of northern Saskatchewan and for
general working capital.
Lucky Strike
Resources Ltd., is an exploration company with an option to earn a
25% interest in approximately 700,000 acres of prospective land
between five properties in the Athabasca Basin of northern
Saskatchewan.
The Company has
45,081,836 shares outstanding. To find out more about Lucky Strike
Resources Ltd. (TSX-VENTURE:LKY) visit the Company's website at
www.luckystrikeresources.com.
On behalf of
Management
Lucky Strike
Resources Ltd.
Ron Rieder, CEO,
President & Director
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
news release may contain certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time to time
with the Toronto Venture Exchange, the British Columbia Securities
Commission and the US Securities and Exchange Commission.
Lucky Strike Resources Ltd.Ron RiederPresident and
CEO604-681-8225www.luckystrikeresources.com
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