Stratabound Announces Appointments to Board of Directors and Financings
Toronto, Ontario--(Newsfile Corp. - October 18, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB:SBMIF) ("Stratabound" or the "Company") is pleased to announce that Mr. Scott Rasenberg and Mr. Ron Tomlinson have been appointed to the Board of Directors of Stratabound Minerals Corp.
Mr. Scott Rasenberg, CPA, CA is the President of Rasenberg-Group Limited. In this role, Mr. Rasenberg provides innovative tax solutions to a broad range of clients, including private and public corporations, partnerships, trusts, and individuals (residents and non-residents of Canada). His experience includes international and domestic tax structures, reorganizations, tax appeals and compliance, acquisitions, mergers and divestitures in a diversity of sectors including manufacturing, retail, transportation, financial and investment services, real estate, mining, agribusiness and a diverse range of service industries. During his career Mr. Rasenberg has managed administration and implementation of company-wide programs for approximately 450 employees and been responsible for significant procurements, treasury and capital asset management. Mr. Rasenberg is the former Chairman of the Board of California Gold Mining Inc. and the former Vice-President Finance & Administration of J.M.R. Electric Ltd.
As CEO of the Tomlinson Group, Mr. Ron Tomlinson has over 35 years of experience in construction materials, infrastructure, environmental services, and aggregates. He has executive-level expertise in management, strategic acquisitions, real estate holdings, partnership and operations. The Tomlinson Group has been producing quality aggregates for more than 40 years and has 25 licensed pits and quarries situated through Eastern & Northern Ontario as well as providing environmental services, waste recovery processing and leading technology in waste to organic fertilizer and recycling. Mr. Tomlinson led this evolution through organic growth and by acquisitions of business that vertically integrate into the core lines of business. The company has grown geographically expanding across Ontario and into the US markets.
Mr. Hashim Ahmed, Chairman of the Company stated, "We are extremely pleased to welcome both Mr. Rasenberg and Mr. Tomlinson to the Board of Stratabound. Both gentlemen bring a depth of experience in infrastructure, environmental, construction operations and broad corporate business acumen that compliments the Company's existing strengths in mineral exploration, mine development and operations."
The Company also announces it is undertaking a non-brokered private placement of up to CDN$2,500,000. The Company will issue up to 20,833,333 units at a price of CDN$0.12 per unit. Each unit consists of one common share and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at CDN$0.25 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 CDN$0.40 for 10 consecutive trading 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 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 CDN$500,000. The Company will issue up to 4,166,667 Flow-Through Units at a price of CDN$0.12 per Flow-Through Unit. Each Flow-Through Unit will be comprised of one common share and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one non-flow-through common share at CDN$0.25 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 CDN$0.35 for 10 consecutive trading 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 on the Company's Canadian exploration properties.
The Company will pay qualified finders fees of 6% in cash.
Stratabound Minerals Corp. is a Canadian mineral exploration and development company that is developing its advanced-stage flagship Fremont Gold Project in the Mother Lode Gold Belt of California. The Project includes the historic, contiguous Pine Tree and Josephine high-grade underground gold mines that closed due to the advent of WWII and never reopened. The Pine Tree/Josephine Deposit, encompassing both historical mines, now has an NI 43-101 Mineral Resource estimate of 526,000 ounces at an average grade of 1.60 g/t Au in the Indicated, plus 452,000 ounces at an average grade of 1.29 g/t Au in the Inferred Mineral Resource categories respectively. Additionally, Fremont hosts three undeveloped gold occurrences across four kilometres of strike along the prolific Mother Lode Gold Belt. (See Stratabound press release of Oct. 15, 2021)
The Company is also advancing its pipeline of other early-stage gold exploration projects; the Golden Culvert, YT, McIntyre Brook, NB, and Dingman, ON, in Canada. Additionally, 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 a Measured and Indicated Resource prepared following CIM (2014) Definition Standards.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose of NI 43-101, has reviewed and approved the contents and technical information of this news release.
Neither the 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, failure to obtain regulatory, exchange or shareholder approval, 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.
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