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Stratex International

  • BY: Andrew Hore |
  • POSTED: 14/10/2014 |

Minerals explorer Stratex International is near to completing its £1.25m cash injection into West Africa-focused explorer GoldStone Resources. 

Once GoldStone has gained shareholder approval for the ten-for-one share consolidation and issue of new shares plus a resolution that there is no need for a mandatory bid after the subscription Stratex will subscribe for consolidated shares at 6p each.  This will give Stratex a 33.4% stake but if it exercised its warrants 0.7p a share it would own 50.1%.

GoldStone’s interests in Ghana and Stratex’s in Senegal will fit together well.

Stratex directors Christopher Hall, Bob Foster and Emma Priestley will replace three existing directors, leaving two existing directors. The subscription should be completed by the end of October.

At 2.1p a share, Stratex is valued at £9.81m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2014_60.pdf

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