VANCOUVER, BC, June 17, 2020 /CNW/ - 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/.
To follow future news releases, please sign up
at https://strategic-res.com/contact/.
STRATEGIC RESOURCES INC.
Signed: "Scott Hicks"
Scott Hicks, CEO
Neither the 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 news release.
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content:http://www.prnewswire.com/news-releases/strategic-resources-revises-terms-of-silasselka-earn-in-301078369.html
SOURCE Strategic Resources Inc.