TORONTO, ONTARIO -- 11/18/09 --
Stroud Resources Ltd. (TSX VENTURE: SDR) ("Stroud") announced today plans to raise up to $300,000 in a non-brokered private placement. Stroud is proposing to offer up to 6 million units at a price of $0.05 per unit, with each unit consisting of one common share and one non-transferable common share purchase warrant. Each share purchase warrant will entitle the holder to acquire one common share at a price of $0.08 for a period of 12 months from the closing date of the offering.
Stroud proposes to pay a finder's fee of 7% in cash to registered dealers who procure subscriptions for units. The private placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a 4-month hold period.
Stroud proposes to use the net proceeds from this offering for general working capital and to fund further exploration of its 100% owned Santo Domingo silver project in Jalisco, Mexico.
Stroud is a debt-free exploration company focused on the discovery and exploration of silver and gold deposits in Mexico and Ontario. Stroud owns a 100% interest in the Santo Domingo epithermal silver-gold project in central Mexico. In addition to the Santo Domingo project, Stroud's assets include 100% interests in the Hislop gold property, near Timmins, Ontario and the Leckie gold property, near North Bay, Ontario. Stroud also generates cash flow from a 3.75% interest in six natural gas, and natural gas condensate wells in central Alberta.
Neither 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.
Contacts:
Stroud Resources Ltd.
Mr. George Coburn
President and CEO
(416) 362-4126
gcoburn@stroudresourcesltd.com
www.stroudresourcesltd.com
