Strata Minerals Releases Interim Financial Statements
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2014) - Strata Minerals Inc. (TSXV: 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 six month interim period ended December 31, 2013. Highlights from the filing include:
December 31, 2013 net working capital deficiency of $883
Exploration expenses in the six month period of $111,868
Shares outstanding as of February 26, 2014 totalled 8,080,662
February 26, 2014 net working capital position of approximately $25,000
Strata continues to progress the financing of the Diamond Mountain acquisition that was announced on December 17, 2013 and anticipates having the financing complete this quarter.
Strata further announces that it has completed a loan transaction under which the Company has borrowed $50,000 by way of a demand loan with interest on the loan accruing at the rate of 10% per annum, supplementing the Company's current working capital noted above. Payment of principal and interest is due on maturity. The lender is a director and officer of the Company. Proceeds of the loan will be used for general working capital purposes.
"Hugh Agro"
Chairman
For further information, please contact:
Brent Lokash, EVP & CFO
Tel: 1 604 862-5190
Email: b.lokash@strataminerals.com
About Strata Minerals Inc.
Strata Minerals Inc. is an emerging 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 Cardabia phosphate exploration project in Western Australia and investigating new opportunities for growth elsewhere in the world. 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.
Additional disclosure of the Company's financial statements, technical reports, material change reports, news releases and other information can be obtained on SEDAR at www.sedar.com.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding future financings, exploration results and the development and operation of Strata's mineral properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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.