Strata-X Ltd. Announces Interim Financial Statements and
Grant of Stock Options
Edmonton, Alberta – Strata-X Ltd. January 06, 2012 (“Strata-X” or the “Corporation”) announces that it has filed its interim condensed consolidated financial statements for the first quarter ended September 30, 2011. These interim financial statements are the Corporation’s first financial statements prepared under International Financial Reporting Standards (“IFRS”). Consequently, the comparative figures for 2010 and the Corporation’s statement of financial position as at July 1, 2010 have been restated from accounting principles generally accepted in Canada (“Canadian GAAP”) to comply with IFRS. The financial statements and accompanying management discussion and analysis are available for review at www.sedar.com.
Strata-X also announces that it has granted stock options today to acquire up to a total of 200,000 common shares to two directors and a key consultant of the Corporation. The options have been granted to Bohdan Romaniuk (50,000 options) and Don Schurman (50,000 options), both directors of Strata-X, as well as David Hettich (100,000 options), an oil and gas consultant. The options shall vest immediately and are exercisable at any time until the close of business on January 5, 2022. The exercise price of the options is $0.30 per share.
The granting of these options is subject to the approval of the TSX Venture Exchange. Including this grant of options, there are currently options to acquire a total of 2,800,000 common shares outstanding pursuant to the Corporation’s stock option plan.
About Strata-X Ltd.
Strata-X is a Edmonton, Alberta and Golden, Colorado based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, and production and development opportunities in California and Texas. Strata-X has 42,458,156 common shares outstanding and trades under the symbol SXE on the TSX Venture Exchange.
For further information, please contact:
President and Chief Executive Officer
Public documents for Strata-X Ltd. (formerly known as Ozcapital Ventures Inc.) Can be found at SEDAR (www.sedar.com)