SB: TSX Venture Exchange
CALGARY , June 5, 2014 /CNW/ - Stratabound Minerals Corp. (SB.V) announces that, subject to Exchange approval, it has undertaken a non-brokered private placement financing of up to 4,000,000 units at $0.25 , each unit consisting of four flow through shares, one non-flow through share, and 2½ warrants, with each whole warrant entitling the holder to subscribe for one additional share for two years at $0.10 per share.
The proceeds will be used for drilling, trenching, and geophysical exploration of base and precious metal massive sulphide targets on the Captain, Commander, and CNE properties in New Brunswick's Bathurst Mining Camp, as well as for general corporate purposes. Drill targets include a prominent gravity anomaly, iron formations, and magnetic and electromagnetic anomalies that Stratabound has identified along the contact between the Nepisiguit Falls and Flat Landing Brook Formations. This geological contact is the "Brunswick Mine Horizon", which is the location for world-class volcanogenic massive sulphide deposits in the Bathurst Mining Camp.
It is anticipated that insiders will participate in the placement.
Any shareholder of Stratabound as at June 4, 2014 is eligible to purchase units up to $15,000 pursuant to the recently adopted security holder prospectus exemption in all Canadian jurisdictions other than Ontario and Newfoundland . Under the new regulation, there is no longer a need for an existing shareholder to qualify under the "accredited investor" or other previous exemptions in order to participate in a private placement financing. In the event there is an over subscription of shares, the Company reserves the right to either reject subscriptions at its discretion, allocate on a pro rata basis or increase the offering. There is no minimum subscription. It is anticipated that the offering will be open until June 30, 2014 .
The technical information contained in this release has been reviewed by John Duncan , P.Geo. and Stan Stricker , P.Geol., Qualified Persons as defined in National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
SOURCE Stratabound Minerals Corp.