Stratabound closes financing
SB: TSX Venture Exchange
Issued: 75,887,611 shares
CALGARY, Oct. 10, 2013 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) reports the closing of its non-brokered private placement, announced on October 1, 2013 of 2,500,000 Units at $0.10 per Unit for gross proceeds of $250,000 to be issued on a flow through basis. Each Unit consists of one common share of the Company and one share purchase warrant entitling the holder to subscribe for one additional share at $0.20 for 5 years from closing. Insiders participated for 100% of the placement.
Under applicable securities laws, the shares issued on this closing are subject to a hold period which will expire on February 10, 2014.
The proceeds from the share issue will be used for drilling and geophysical surveys on the Company's 100%-owned CNE Mining Lease and CNE/Captain claim groups, as well as on adjacent claims optioned from Commander Resources Ltd., on which Stratabound can earn up to a 65% interest.
Stratabound will be drilling geophysical features that may reflect volcanogenic massive sulphides with zinc-lead-silver or copper-gold mineralization.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing base metal and gold properties in eastern Canada.
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.
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