Strata Minerals Releases Quarterly Unaudited Financial Statements and Results of AGM
TORONTO, Nov. 29, 2012 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce it has filed on SEDAR its unaudited financial statements along with the associated Management Discussion and Analysis for the quarter ended September 30, 2012. Highlights from the filing include:
● September 30, 2012 net working capital deficit of $26,876
● Exploration expenses in the quarter of $0.296 million
● November 29, 2012 net working capital position of approximately $0.5 million
● Shares outstanding as of November 29, 2012 totalled 68,306,620
The Company is also pleased to announce that it held its Annual General Meeting on November 28, 2012 (the "AGM"). At the AGM, the shareholders of the Company approved the following:
- Hugh Agro, Peter Kozicz, Peter Ellery, Brent Lokash, Steve Swatton and Richard Kelertas were re-elected as directors of the Company for the ensuing year;
- BDO Canada LLP were re-appointed as the auditors of the Company for the ensuing year; and
- The Company's "rolling" 10% stock option plan was adopted.
The Company wishes to thank Nigel Gellard for his past service as a member of the Board of Directors. Mr. Gellard did not stand at the AGM for re-election to the Board. However, he remains in his role as Managing Director of Strata Minerals Pty Ltd., the Company's wholly-owned Australian subsidiary, which is currently advancing the Cardabia project in Western Australia.
About Strata Minerals Inc.
Strata Minerals Inc. is an emerging, Australasia focused, agricultural nutrient company exploring for commercial scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Western Australia and Queensland and intends to broaden its focus to other agricultural nutrients including potash and lime. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Pty Ltd. For further information, please refer to the Company's website at www.strataminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Strata Minerals Inc.