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Sentient Group Backs Strateco Resources with $838K

The Sentient Group, a natural resources-focused private equity firm based in the Cayman Islands and with an office in Montréal, has made a minority investment of $838,000 in Boucherville, Québec-based Strateco Resources Inc., a uranium mining company with exploration projects in Northern Quebec. Strateco has been private equity-backed since since 2002, having raised funds from Sentient Group and the Fonds de solidarité des travailleurs du Québec FTQ.

PRESS RELEASE

Sentient IV Acquires Common Shares of Strateco Resources Inc.

MONTREAL, Aug. 12, 2013 /CNW Telbec/ – Sentient Executive GP IV, Limited (“Sentient IV”) announces that, in connection with a private placement with Strateco Resources Inc. (“Strateco”), it has acquired control over 16,775,316 common shares (“Shares”) of Strateco on August 12, 2013, representing approximately 9.99% of the outstanding Strateco Shares.

Sentient IV has control or direction over 22,955,316 Strateco Shares (representing approximately 12.44% of the outstanding Strateco Shares) and the right to acquire 4,590,000 Strateco Shares through 4,590,000 share purchase warrants of Strateco (the “Sentient IV Warrants”).

In the event all of the Sentient IV Warrants are fully exercised, Sentient IV would acquire control over a maximum of 27,545,316 Strateco Shares (including the 22,955,316 Strateco Shares over which Sentient IV has control or direction).  These combined holdings would represent approximately 14.57% of the outstanding Strateco Shares, calculated on a partially diluted basis assuming the full exercise of the Sentient IV Warrants only.

Sentient IV acquired the 16,775,316 Shares for investment purposes only and not with a view to materially affecting control of Strateco.

Sentient IV relied under section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions for the purchase of the Shares as it is an “accredited investor” for the purposes of that Instrument.

SOURCE SENTIENT EXECUTIVE GP IV, LIMITED

For further information or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at (345) 946-0933.

Photo courtesy of Shutterstock.