Toronto, Ontario--(Newsfile Corp. - December 14, 2022) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") announces it is undertaking a non-brokered private placement of up to CDN$2,000,000. The Company will issue up to 40,000,000 units at a price of CDN$0.05 per unit. Each unit consists of one common share and one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at CDN$0.07 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$0.20 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 and holding costs related to maintaining its exploration properties and for general corporate working capital purposes.
Stratabound Minerals Corp. is a Canadian mineral exploration and development company that is developing its advanced-stage flagship Fremont Gold Project in the historic Mother Lode Gold Belt of California. The Fremont Property features an NI 43-101 Mineral Resource Estimate (MRE) of 1.16 million Au ounces at an average grade of 1.90 g/t Au in the Indicated, plus 2.02 million ounces at an average grade of 2.22 g/t Au in the Inferred Mineral Resource classifications. This current MRE evaluates only 1.4 km of the entire 4 km strike length of the Fremont Property that features four gold-mineralized zones. The Company is also advancing its pipeline of early-stage exploration projects in Canada including the Golden Culvert, Yukon and McIntyre Brook gold projects, and the Captain Cobalt-Copper-Gold Deposit in New Brunswick.
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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