pcNewsWire – Stratabound Minerals Corp. (TSX-V: SB) has closed a private placement financing of 3,140,440 units at a price of $0.05 per unit for gross proceeds of $157,022
The proceeds of the private placement will be used by the Company to finance the Company’s continued pursuit of an accretive acquisition and for general corporate purposes.
News Release
Stratabound Announces Reelection of Directors and Closing of Private Placement
July 7, 2017 – Toronto, Ontario: Stratabound Minerals Corp. (TSXV: SB) (“Stratabound” or “the Company”) is pleased to announce that at its Annual General and Special Meeting of Shareholders held on June 28, 2017 all of the directors of the Company were reelected with more than 99.5% of the votes cast. The Company’s directors include Terrence Byberg, President and CEO; Margaret Kent, Chairman; Michael Page, VP Exploration; R.M. (Mike) Robb; and Peter Calder.
The Company also announces that it has closed a private placement financing of 3,140,440 units (the “Units”) of the Company, at a price of $0.05 per Unit, for gross proceeds of $157,022. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable for one common share at $0.075 for 24 months from the date of issue.
Certain insiders of the Company have acquired Units under the private placement. All securities issued pursuant to the private placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Company did not pay any finder’s fees in respect of the private placement.
The proceeds of the private placement will be used by the Company to finance the Company’s continued pursuit of an accretive acquisition and for general corporate purposes.
President and CEO Terry Byberg commented, “We are pleased to announce this private placement which will support the Company in its efforts as we continue to pursue an accretive acquisition that will provide a basis to transition Stratabound into a development / operating company. We have reviewed a number of possible opportunities over the past year and are now focused on a project that is a good fit for Stratabound and its corporate strategy.”
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a public company focused on the exploration of its base metal properties in New Brunswick and the acquisition of base and precious metals properties in the Americas which are producing or capable of restarting operations within eighteen months or less.
For further information contact:
Terry Byberg, President and CEO
416-915-4157
info@stratabound.com
www.stratabound.com
