Strategic Metals Closes Property Transaction with Rockhaven
October 8, 2015 -- Strategic Metals Ltd. (TSX-V:SMD) ("Strategic") announces that is has received final TSX Venture Exchange acceptance and closed a property exchange transaction with Rockhaven Resources Ltd. "Rockhaven"). The transaction was originally announced on July 14, 2015.
The Rockhaven transaction received minority shareholder approval at Strategic's Annual General and Special Meeting held on September 30, 2015. The transaction was approved by 11,347,551 of the eligible 13,271,319 minority votes cast is respect of the resolution (85.50%).
In accordance with Multinational Instrument 61-101, minority shareholder approval was required as the Rockhaven transaction was considered to be a related party transactions based on: (i) Strategic's shareholdings in Rockhaven; and (ii) certain officers and directors common to both Strategic and Rockhaven.
A proposed mineral property transaction with Silver Range Resources Ltd. ("Silver Range"), as originally announced on August 7, 2015, was also approved by minority shareholders at the September 30, 2015 shareholders' meeting. The Silver Range transaction has not formally closed and remains subject to TSX Venture Exchange final acceptance.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website atwww.strategicmetalsltd.com or contact:
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.