NEWS RELEASE FOR:
STRATEGEM CAPITAL CORPORATION.
VANCOUVER, BRITISH COLUMBIA – August 17, 2005 – Strategem Capital Corporation (“Strategem” or the “Company”) (TSX-V: SGE) announced today that it has acquired additional
common shares of Adriana Resources Inc.
The company has increased its share ownership as a result of the following transactions:
- On July 29, 2005, the Company acquired 80,000 units, each unit consisting of one Share and one-half of one share purchase warrant, at a price of $0.25 per unit, for a total cost of $20,000.00, through a private placement. One whole warrant and $0.35 will entitle the Company to purchase one further Share of Adriana Resources Inc. until July 29, 2006;
- On August 8, 2005, the Company sold 5,000 Shares at a price of $0.35 per Share, for total proceeds of $1,750.00, through the facilities of the TSX Venture Exchange; and
- On August 10, 2005, the Company acquired 199,500 Shares at a price of $0.24 per Share, for a total cost of $47,880.00, through a private shareholder’s acquisition.
Although these transactions increase the Company’s total shareholdings in Adriana Resources Inc. to 3,174,500 Shares from 2,900,000 Shares, the Company’s ownership has decreased from approximately 25.4% to approximately 17.7% of the issued and outstanding share capital of Adriana Resources Inc. as a result of other share issuances by Adriana Resources Inc.
About Strategem Capital
Strategem Capital Corporation is a publicly-traded merchant bank focused on the development of emerging companies with growth potential. The Company is currently focusing on companies that explore or develop precious or base metals.
This release and prior releases are available on the Company’s Internet web site located at www.strategemcapital.com.
BY ORDER OF THE BOARD OF DIRECTORS
“Kenneth W. Morgan”
Kenneth W. Morgan, President, CEO and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Not for dissemination in the United States.