TORONTO, October 14, 2016 -
Stroud Resources Ltd. (TSXV: SDR) ("Stroud" or the "Company") is pleased to announce that it has completed the sale of its 100 percent interest in the Company's Hislop project to a private company, the Hislop Gold Company Ltd., for $225,000 in cash and $1,275,000 in assumption of debts owed by Stroud to certain debtholders (the "Transaction").
Stroud will focus on further developing its 100% owned silver project in Jalisco, Mexico.
Pursuant to Section 5.14(c) of TSX Venture Exchange Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets, the Company held a special meeting on July 29, 2016 to seek disinterested shareholder approval of the Transaction. Messrs. Jakubovic and Atkinson were precluded from voting any shares owned by the directly or indirectly. At such meeting, the Transaction was approved by 92.03% of the votes cast by the disinterested shareholders.
For further information:
Stroud Resources Ltd.
Mr. Mirsad Jakubovic, President, Stroud Resources Ltd.
Tel: (416) 888-8731
mirsad@cpamba.ca
All amounts noted herein are in Canadian dollars.
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 release.
