SB: TSX Venture Exchange
CALGARY , Sept. 2, 2014 /CNW/ - Stratabound Minerals Corp. (SB.V) reports the closing on August 29, 2014 of the final tranche of $675,000 of a $1,000,000 non-brokered private placement, announced on June 5 , 2014. Closing of an initial tranche of $325,000 was announced on June 18 , 2014. The total offering was 4,000,000 Units at $0.25 per Unit for gross proceeds of $1,000,000 . Each Unit consists 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. In connection with this private placement, the company has paid a finder's fee of $3,600 in cash plus 14,400 warrants, each warrant allowing the purchase of one additional share for two years at $0.10 per share.
Insiders participated for 82.1% of the placement.
Under applicable securities laws, securities issued on this private placement are subject to trading restrictions until December 30, 2014 .
Proceeds are being used for exploration on the Company's New Brunswick properties and for general working capital.
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.