SB: TSX Venture Exchange
Issued: 32,809,505 common shares
CALGARY, Nov. 27 /CNW/ - Stratabound Minerals Corp. ("Stratabound" or the
"Company") is pleased to announce that it has closed the first tranche of its
previously announced financing for gross proceeds of $681,874.50 (net proceeds
to Stratabound of $618,641.07). Emerging Equities Inc. acted as exclusive
agent and were paid a cash commission of $40,858.04 in connection with the
offering. An aggregate of 1,688,021 common shares were issued in the capital
of the Company consisting of 1,036,466 common shares (the "Common Shares") at
$0.375 per Common Share and 651,555 common shares issued on a flow-through
basis (the "Flow-Through Shares") at $0.45 per Flow-Through Share, on a best
efforts basis. The Company anticipates completing closing of the balance of
the private placement in the near future. The shares issued under the private
placement are subject to a hold period under applicable securities laws of
four months which will expire on March 28, 2008.
The net proceeds of the offering will be used for further exploration on
its New Brunswick properties and for general working capital.
Stratabound is a Canadian junior mining and exploration company currently
exploring for precious and base metals in several areas of New Brunswick,
Quebec and Ontario.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information regarding the Company contained herein may constitute
forward looking statements. Forward looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Although the Company believes that
the expectations reflected in such forward looking statements are reasonable,
it can give no assurance that such expectations will prove to have been
correct. These statements are subject to certain risks and uncertainties and
may be based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward looking
statements. The Company is under no obligation to update or alter any forward
looking statement. These risks include operational and geological risks and
the ability of the Company to raise necessary funds for exploration. The
Company's forward looking statements are expressly qualified in their entirety
by this cautionary statement.
For further information:
For further information: Stan Stricker, P. Geol, President, (403)
258-3630, firstname.lastname@example.org, www.stratabound.com