Skip to main content

Stroud Resources Ltd. Approves Eric Sprott Placement at its Annual and Special Meeting

Written by Customer Service on . Posted in Public Companies.

TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) — Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or “Company”) is pleased to announce that it held an annual and special meeting of its shareholders on November 13, 2020 (the “Meeting”) in order to, among other things, approve the private placement of July 30, 2020 where 7,500,000 Units of the Company were purchased by 2176423 Ontario Ltd., a corporation which is beneficially owned by Mr. Eric Sprott as more particularly described in the press release of the Company dated July 30, 2020 (the “Private Placement”).
The issuance of the Units pursuant to the Private Placement is considered to be a “related party transaction” as defined within Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. After correspondence with the Ontario Securities Commission, the Company determined that as the Private Placement would have a value of more than 25% of the market capitalization of the Company at June 30, 2020, the Company would not be able to rely on the exemption from the minority shareholder approval. As a result, the Company sought minority shareholder approval and ratification of the Private Placement at the Meeting. The minority shareholders of the Company approved the Private Placement with 8,264,868 votes in favour the resolution being 99.97% of the votes cast at the Meeting.At the Meeting, Howard Atkinson, Grant Walsh, Scott Jobin-Bevans and Mirsad Jakubovic were all re-elected to the Board of Directors.About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.For more information please visit www.stroudsilver.com ON BEHALF OF THE BOARD OF DIRECTORS OF STROUD RESOURCES LTD.Mirsad Jakubovic
CFO and DirectorNeither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.