Montreal-based Stratmin (ME) is hoping to receive about $6 million from a rights offering. Holders of the company’s A shares, as of the close of business Dec. 19, will receive three rights for each share. Under the offering, 10 rights plus $1.15 will enable the holder to purchase one A share. The rights will be exercisable by Jan. 18.
The company expects to use the bulk of the proceeds to repay advances made by St. Genevieve Explorations which went toward construction and startup costs of Stratmin’s mill at its St-Aime-du- Lac-des-Iles graphite project.
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