Silver Range Spin-out
The spin-out of Silver Range Resources Ltd. was designed to increase value for Strategic shareholders by creating a new precious metal focused company that will advance bulk tonnage targets at the silver-enriched Silver Range project and gold-rich Mint project, both located in the Yukon Territory.
At a special general meeting (the "Meeting") held on Friday, July 15, 2011, Strategic shareholders approved a special resolution to spin-out certain of the Company's assets into a new company, Silver Range Resources Ltd., through a plan of arrangement (the "Arrangement"). Under the Arrangement, Strategic will distribute to its own shareholders most of the Silver Range common shares and Silver Range share purchase warrants it has acquired, on the basis of one Silver Range common share and one-half of a Silver Range share purchase warrant for each three shares of Strategic held. Each whole Silver Range warrant will entitle the holder to purchase one additional Silver Range share at a price of $0.85 for a period of eighteen months from listing. The Silver Range common shares and Silver Range share purchase warrants were distributed to shareholders of Strategic at the close of business (Vancouver time) on July 27, 2011 (the "Share Distribution Record Date"). Strategic continues to hold 18.8% of the Silver Range common shares and share purchase warrants.
Silver Range's common shares and share purchase warrants have commenced trading on the TSX Venture Exchange under the symbols "SNG" and "SNG.WT" respectively. Shareholders are not required to do anything to obtain the Silver Range common shares or Silver Range share purchase warrants, as they will be distributed pursuant to the shareholders' list maintained by Strategic's registrar and transfer agent, Computershare Investor Services Inc., dated as of the Share Distribution Record Date.
Please visit www.silverrangeresources.com for more information
