Strata-X Trades on the ASX
GOLDEN, COLORADO USA, BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA CANADA . March 11, 2013 (Pacific Daylight Time-Canada)-
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX.V:SXE) (ASX:SXA) are pleased to announce that the Company has been listed on the Australian Securities Exchange (“ASX”) under the ticker symbol “SXA” and that trading of the CHESS depository interests (CDIs) has commenced. Each CDI is equivalent to and exchangeable for one common share in the capital of Strata-X. The Company’s existing shares will continue to be traded on the TSX Venture Exchange under the symbol “SXE”.
Through the Initial Public Offering (“IPO”) an aggregate of 42,303,293 CDIs were sold, at a price of AUD$0.30 per CDI, generating aggregate gross proceeds of AUD$12,690,987. Proceeds from the IPO will be used to fund a drilling campaign on the Company’s oil and gas projects in the Eagle Ford Maverick Oil Project in Texas, the Vail Oil Project in Illinois and the Sleeping Giant Project in North Dakota. Additionally, a portion of the raised funds will be used to acquire further high reward potential opportunities, pay the expenses of the IPO and provide ongoing working capital for general and administration expenses.
Strata-X is a Golden, Colorado (USA) based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Colorado, Illinois and Western Australia and production and development opportunities in California. Strata-X has 123,236,013 common shares outstanding and trades under the symbol “SXE” on the TSX.V and “SXA” on the ASX.
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