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TORONTO, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Stratabound Minerals Corp. (SB.V) (“Stratabound” or “the Company”) is pleased to announce a non-brokered private placement (the “Private Placement”) offering of up to 7,272,727 units (the “Units”) of the Company, at a price of $0.055 per Unit, for gross proceeds of up to $400,000. Each Unit consists 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 $0.08 for 24 months from the date of issue. The Company’s major shareholder has subscribed for the lead order of 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. Completion of the Offering remains subject to acceptance by the TSX Venture Exchange.  A fee of up to 7% cash and 7% broker warrants will be paid to participating registrants who introduce investors who subscribe to the Private Placement. Any broker warrants issued will be exercisable for one common share at the above-stated Unit price for 18 months from the date of issue.

The proceeds of the Private Placement will be used by the Company to fund the final cash payment for the purchase of the Golden Culvert and Little Hyland options, for general corporate purposes, and to fund expenditures to prepare for summer exploration of the project.

Stratabound plans to rely upon the existing security holder exemption found in B.C. Instrument 45-534 (Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders) and as further described in Multilateral CSA Notice 45-313 (Prospectus Exemption for Distributions to Existing Security Holders (published March 13, 2014)) or analogous exemptions in each of the applicable permitted jurisdictions for shareholders of record as of February 16, 2018, as well as other exemptions. As at the date hereof, the existing security holder exemption is available in each of the provinces of Canada, with the exception of Newfoundland and Labrador.

In addition to the existing security holder exemption and other available prospectus exemptions, a portion or all of the offering may be completed pursuant to Multilateral CSA Notice 45-318 (Prospectus Exemption for Certain Distributions through an Investment Dealer), and the corresponding blanket orders and rules implementing CSA Notice 45-318 in the participating jurisdictions in respect thereof. As at the date hereof, the exemption available under CSA Notice 45-318 is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA Notice 45-318, each subscriber relying on the investment dealer exemption must obtain advice regarding the suitability of the investment from a registered investment dealer. There is no material fact or material change of the company that has not been generally disclosed.

As required by B.C. Instrument 45-534 and CSA Notice 45-318, the attached table sets out the intended use of proceeds of the offering on a percentage basis. The intended uses of proceeds and/or the company’s development capital needs may vary based upon a number of factors.

Estimated fund allocation is as follows:

Final payment on the Golden Culvert transaction: 25 per cent

Working capital: 75 per cent

Total: 100 per cent

Unless the company determines to increase the size of the Private Placement offering, if subscriptions received for the offering based on all available exemptions exceed the offering amount of $400,000, units will be allocated pro rata amongst all subscribers qualifying under all available exemptions.

If you are an existing security holder or qualified person with respect to the existing security holder exemption or the investment dealer exemption noted above and you have interest in this offering, please call or e-mail the Company as set out below.

President and CEO R. Kim Tyler commented, "We are extremely pleased to announce this Private Placement which will support the Company as we prepare for the initial exploration programs at the Golden Culvert project in the Yukon. Our plans are to undertake an exploration program of trenching and drilling this exciting project as soon as we can mobilize to the site. We are also pleased that our major shareholder has stepped forward for a lead order."