BOUCHERVILLE, QUEBEC -- (Marketwired) -- 01/08/15 -- SeqUr Exploration Inc. ("SeqUr") and Strateco Resources Inc. ("Strateco") (TSX: RSC)(FRANKFURT: RF9) are pleased to announce that Strateco has distributed the 15,000,000 SeqUr shares it received as consideration for transferring its option agreement on an interest in the Jasper Lake project in Saskatchewan to SeqUr last June.
In the distribution of the 15,000,000 SeqUr shares, shareholders of Strateco on the record date, December 30, 2014, received 0.069032 SeqUr shares for each common share of Strateco held by them. No SeqUr share fractions were issued; instead, shareholders entitled to a SeqUr share fraction received one whole share of SeqUr if their fraction was equal to or greater than half a SeqUr share.
Through this distribution, Strateco has refunded its shareholders the $551,590 reduction in stated capital, as at January 8, 2015, representing a unit value of $0.037 per SeqUr share.
Following the distribution, SeqUr is now a reporting issuer in Quebec with approximately 790 shareholders. Strateco shareholders who received SeqUr shares under the distribution cannot sell their SeqUr shares until May 9, 2015, following which they will be able to trade over the counter among themselves through SeqUr's transfer agent, Computershare, if SeqUr is not yet listed on the Canadian Securities Exchange ("CSE").
SeqUr obtained conditional approval of its CSE listing application on December 17, 2014, and the common shares of SeqUr will be tradable on the CSE once SeqUr has met certain conditions. Once it has obtained final CSE approval, SeqUr will issue a press release announcing the first day of trading.
This news release contains "forward-looking statements" by Strateco and SeqUr subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec. This news release and SeqUr's other public documents are now available on SEDAR at www.sedar.com.
SEQUR EXPLORATION INC.
STRATECO RESOURCES INC.
President and Chief Executive Officer
450.641.0775 / 1.866.774.7722