StratMin Global Resources Plc 4 March GBP300,000 private...

StratMin Global Resources Plc
4 March

GBP300,000 private placement to fund corporate development

StratMin Global Resources Plc (AIM: STGR), London's only listed graphite production and exploration company, announces completion of a private placement raising gross proceeds of GBP300,000 via the placement of 12,000,000 new ordinary shares of 0.01 pence each at a placing price of 2.5 pence per Ordinary Share (the "Placing Price") (the "Placing").

The net proceeds of the Placing will be used, inter alia, to complete due diligence on confidential corporate opportunities related to graphite based energy storage applications that the Company has been working on. The budget required to progress these opportunities is over and above the expansion funding provided for the Company's Loharano operation pursuant to the transaction with Bass Metals Ltd (as first announced on 2 September 2015), and will allow the Company to complete due diligence, finalise terms and documentation and provide working capital.