SB: TSX Venture Exchange
CALGARY, Sept. 2, 2014 /CNW/ - Stratabound
Minerals Corp. (TSX.V: SB) 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.