SB: TSX Venture Exchange Issued: 61,525,111 shares
CALGARY, April 26 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to announce the closing on April 22, 2010 of its previously announced non-brokered financing for gross proceeds of $532,687.50. One insider subscribed for $225,000 of this private placement.
This financing is in addition to a $1,000,000 private placement financing with MineralFields Group which closed on April 12, 2010 (news release April 15, 2010).
In connection with the $532,687.50 closing, an aggregate of 2,367,500 units ("Units") were issued at a price of $0.225 per Unit with each Unit consisting of one common share issued on a flow-through basis and one-half of a common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder to acquire one non-flow-through common share for $0.35 per share for the first 12 months and $0.40 for the next and final 12 months from the date of issuance. The shares issued on this closing are subject to a hold period under applicable securities laws which will expire on August 23, 2010.
The Corporation plans to use the proceeds from this financing to further its exploration programs on its New Brunswick and other Canadian properties.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing its 100%-owned gold and base metal properties in eastern Canada. It is currently focused on building 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.
SOURCE Stratabound Minerals Corp.
For further information: For further information: Stan Stricker, P. Geol, President, (403) 258-3630, firstname.lastname@example.org, www.stratabound.com