TORONTO, March 11, 2013 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement in the amount of $1,000,000. A total of 12,500,000 units ("Units") were issued at a price of $0.08 per Unit. Each Unit consists of one common share of the Company and one-half of one share purchase warrant. Each warrant will entitle the purchaser to purchase an additional common share in the capital of the Company up to September 14, 2014 at a price of $0.12 per share. Where the Strata common shares trade for twenty (20) consecutive trading days at a weighted average trading price of not less than $0.25 per share, Strata may accelerate the expiry of the warrants, such that the warrants shall expire within 30 days of the issuance of a news release by Strata disclosing such accelerated expiry. Finder's fees equal to 6% of the gross proceeds of the private placement are payable to arm's-length parties in connection with this private placement. In addition, the Company has granted to the finders, options to acquire 750,000 common shares of the Company at a price of $0.12 per share on the same terms as the warrants issued in connection with the private placement. Both the common shares issued as part of the Units and any common shares issued upon exercise of the warrants, and the options granted to the finders, are subject to a hold period, which expires on July 8, 2013. Such common shares may not be traded until July 8, 2013, expect as permitted by applicable securities legislation and the rules of the TSX Venture Exchange. The net proceeds from the private placement will be used for working capital.