Stratabound closes financing; drilling underway on gravity target
SB: TSX Venture Exchange Issued: 75,837,611shares
CALGARY, Sept. 21, 2012 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to report the closing of its non-brokered private placement, announced on September 10, 2012, of 3,750,000 flow-through shares at $0.08 per share for gross proceeds of $300,000, subject to regulatory approval. No finders' fees were paid. Under applicable securities laws, the shares issued on this closing are subject to a hold period which will expire on January 22, 2013. Insiders participated for 85.67% of the placement.
The proceeds from the flow-through share issue will be used for drilling on the Commander property, where Stratabound holds an option to earn a 65% interest. The property is located in the Bathurst Mining Camp of northern New Brunswick.
Drilling is underway on the gravity target described in Stratabound's news release of September 10, 2012, available on the Company's website, www.stratabound.com.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing base metal and gold properties in eastern Canada. It is currently focused on bringing the CNE lead-zinc-silver deposit into production, while continuing to build a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
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
SOURCE: Stratabound Minerals Corp.For further information: