News Column

Strata-X Energy Ltd.: AUD$12.7 Million Australian Offering Completed

Mar 7 2013 12:00AM

Marketwire

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GOLDEN, COLORADO and BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/07/13 -- The directors and management of Strata-X Energy Ltd. ("Strata-X" or the "Company") (TSX VENTURE: SXE) (ASX: SXA) are pleased to announce the completion of the its initial public offering in Australia (the "Offering") (see press release dated December 21, 2012). An aggregate of 42,303,293 CHESS depository interests (CDIs) were sold, at a price of AUD$0.30 per CDI, generating aggregate gross proceeds of AUD$12,690,987.

Each CDI is equivalent to and exchangeable for one common share in the capital of Strata-X.

Bizzell Capital Partners Limited were the Corporate Advisors (the "Advisors") to the Offering and BBY Limited and Helmsec Global Capital Ltd. were the joint lead managers (the "Agents") for the Offering).

Upon closing, the Agents received an aggregate commission AUD$761,459.27, a management fee of AUD$126,909.88 as well as an aggregate of 1,265,383 brokers warrants exercisable at a price of A$0.36 per CDI until February 20, 2016. The Advisors received a success fee of AUD$207,040.41.

All of the securities issuable under the Offering are subject to a hold period in Canada expiring on June 21, 2013, such that the CDIs or underlying shares may not be resold into Canada during such period, unless an exemption is available. The CDIs are tradeable on the ASX upon listing.

The net proceeds of the Offering will be used to fund a drilling campaign on the Company's oil and gas projects in the Eagle Ford Maverick Oil Project in Texas, the Vail Oil Project in Illinois and the Sleeping Giant Project in North Dakota, as well as expenditures associated with the Offering and ongoing working capital for general and administration expenses.

The Company expects the CDIs to commence trading on the ASX in the week of March 11, 2013.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation or sale would be unlawful.

Strata-X is a Golden, Colorado (USA) based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Colorado, Illinois and Western Australia and production and development opportunities in California. Strata-X has 80,932,720 common shares outstanding and trades under the symbol "SXE" on the TSX.V and "SXA" on the ASX.

Public documents for Strata-X Energy Ltd. can be found at SEDAR (www.sedar.com)

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected and the forward-looking statements included in this news release should not be unduly relied upon. See "Risks and Uncertainties" in the Company's Filing Statement dated August 30, 2011 available on SEDAR at www.sedar.com These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Neither 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.



Contacts:
Strata-X Energy Ltd.
Tim Hoops
President
720-515-8793
info@strata-x.com

Strata-X Energy Ltd.
Colin Christensen
Investor Relations
403-483-8363
colin@strata-x.com





Source: Marketwire