Strata-X Energy Ltd. (TSXV:SXE) announced that it has entered into share subscription agreement to issue 5,000,000 units at a price of AUD 0.06 per unit for gross proceeds of AUD 300,000 on April 27, 2020. The transaction will include participation from Botsgas Pty Ltd. Each unit consists of one chess depository interest and one half of one option. The company will issue 2,500,000 option, exercisable into one chess depository interest at an exercise price of AUD 0.07 up until May 22, 2022.

Each chess depository interest will represent one common share of the company and will rank equally with existing interests. All securities issued in the transaction are to be fully tradable and listed on the ASX, subject to the necessary approvals by the TSX-V and ASX. The transaction is expected to close on or before May 22, 2020.