Stratabound Minerals Corp. Announces Financings
Toronto, August 10, 2020 - Stratabound Minerals Corp. (TSXV: SB) ("Stratabound" or the "Company") announced it is undertaking a non-brokered private placement of up to $5,000,000. The Company will issue up to 25,000,000 units at a price of $0.20 per unit. Each unit consists of one common share and one half of a warrant. Each whole warrant entitles the holder to purchase one additional common share at $0.30 for a period of two years from the date of closing. The warrant also contains an acceleration clause wherein if the Common Shares trade at $0.40 for 10 days the Company has the right to accelerate the expiration date upon 30 days' notice to the holders. Proceeds will be used for exploration expenses, related holding costs to maintain the respective exploration properties, and for general corporate working capital purposes.
The Company is also undertaking a non-brokered Flow-Through Unit private placement of up to $2,000,000. The Company will issue up to 8,000,000 Flow-Through Units at a price of $0.25 per Flow-Through Unit. Each Flow-Through Unit will be comprised of one common share and one-half of a warrant. One whole warrant will entitle the holder thereof to purchase one non flow-through common share at $0.35 for a period of 2 years from the date of issue. The warrant also contains an acceleration clause wherein if the Common Shares trade at $0.45 for 10 days the Company has the right to accelerate the expiration date upon 30 days' notice to the holders. Proceeds will be used for qualifying exploration expenditures of the Company in relation to the Golden Culvert and Little Hyland properties in the Yukon Territory, the McIntyre Brook and Captain properties in New Brunswick.
The Company will pay qualified finders fees consisting of 5% in cash and 5% in brokers warrants.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
For more information please visit the company's website at www.stratabound.ca.
For further information contact:
R. Kim Tyler, President and CEO
416-915-4157
info@stratabound.com
www.stratabound.com
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