Last checked at 30 Oct 2014 12:01
Stratex International Plc
("Stratex" or the "Company")
Stratex to Complete Strategic Investment in GoldStone Resources Limited
Stratex International Plc is pleased to report that, further to the Company's announcements on 21 July and 14 October 2014, the directors of GoldStone Resources Limited (AIM: GRL, "GoldStone") have announced that the resolutions proposed at the annual general meeting and the extraordinary general meeting ("EGM"), which were both held today, were duly passed.
At the EGM the resolution to approve the waiver of obligations on Stratex under Rule 9 of the City Code in connection with Stratex's proposed subscription of £1.25 million was approved on a poll of Independent Shareholders.
As at 31 October 2014 Stratex will hold 20,833,333 Goldstone ordinary shares, representing 33.45% of the voting rights of Goldstone, together with warrants to subscribe for a further 20,833,333 Goldstone ordinary shares at 7p per share. If Stratex exercises the warrants in full and assuming no other issues of shares by Goldstone, Stratex would hold 41,666,666 Goldstone ordinary shares, representing 50.1% of the enlarged voting rights of Goldstone.
With effect from 31 October 2014 each of Jonathan Best, Dr. Hendrik Schloemann and Benjamin Hill will resign from the Goldstone board and Christopher Hall, Bob Foster and Emma Priestley will be appointed to the Goldstone board.
The full text of the announcement by Goldstone can be found at http://www.goldstoneresources.com/investors/news-releases.html.
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For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
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Bob Foster / Christopher Hall / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
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Philip Secrett / Melanie Frean / Jen Clarke
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Northland Capital Partners Limited | Tel: +44 (0)20 7382 1100 |
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Gavin Burnell / Matthew Johnson / Alice Lane /John Howes
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3463 2260 |
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Ewan Leggat / Tercel Moore
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Yellow Jersey PR Limited | Tel: +44 (0)20 3664 4087 | ||||
Dominic Barretto / Philip Ranger / Anna Legge | |||||
Notes to editors:
Stratex International is a well-funded AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.
In December 2012 the Company announced the sale of its 30% interest in the Öksüt gold project for cash of 20 times its original US$1 million investment and retained a royalty of 1% up to a maximum additional value of US$20 million.
To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company has a robust cash balance and is therefore well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources, particularly in East Africa and West Africa.