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Canada : Strata-X Announces Proposed Application with Australian Securities Exchange and Concurrent Prospectus Offering in Australia.

The directors and management of Strata-X Energy Ltd ( Strata-X or the Company ) are pleased to announce that the Company intends to lodge a prospectus with the Australian Securities and Investment Commission to raise an undetermined level of proceeds from the issue of securities in Australia.

The terms of the prospectus offering will be determined at a later date, but will include the issuance of CHESS Depository Interests (CDIs), common shares and common share purchase warrants. The Company intends to apply to the Australian Securities Exchange ("ASX") to list the CDIs on the ASX. Each CDI will be equivalent to and exchangeable for one common share in the capital of the Company.

The prospectus offering will be made to Australian resident retail investors who have received a firm allocation from their broker and to institutional investors who have received an invitation to participate in the offer (Eligible Participants). The prospectus will be made available to Eligible Participants at the time the CDIs are offered and may be accepted by completing the application form accompanying the prospectus.

Subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing of these transactions is expected to occur in December of this year. All securities issued in conjunction with the prospectus will be subject to a four-month statutory hold period in Canada and cannot be resold into Canada during such period, unless an exemption is available from the applicable prospectus requirements in Canada.

The prospectus is intended for use only in connection with the offering of the Company s securities in Australia and is not to be construed as an offering in Canada or any other jurisdiction. Neither the common shares nor the CDIs have been or will be registered in the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in Texas, North Dakota, California, Colorado, Illinois and Western Australia and production and development opportunities in California and Texas. Strata-X has 50,487,105 common shares outstanding and trades under the symbol SXE on the TSX.V.

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Publication:Mena Report
Geographic Code:1CANA
Date:Nov 10, 2012
Words:439
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