Strathmore Minerals Corp. of Kelowna, B.C., negotiated a non-brokered private placement with SIDEX for 114,286 units at $1.75 per unit in July.
SIDEX, the Diversification of Exploration Investment Partnership, was established by the Government of Quebec and the Solidarity Fund QFL. Its mission is to invest in companies exploring for minerals in Quebec, in order to diversify the province’s mineral base and open new territories to exploration and investment.
Proceeds will fund ongoing exploration at the Dieter Lake property, encompassing about 21,000 ha in north-central Quebec. Fugro Airborne Surveys has been hired to conduct a 1,100-line-km GEOTEM 1000 electromagnetic survey, the first to be conducted on the property. More information is available at www.strathmoreminerals.com.