SB: TSX Venture Exchange
Issued: 65,145,111 shares
CALGARY, March 15, 2012 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) has undertaken, subject to regulatory approval, a private placement of 4,000,000 common shares at $0.05 per share for gross proceeds of $200,000 and 5,000,000 flow-through shares at $0.08 per share for gross proceeds of $400,000. Insiders will participate for 50% and 30% of the placements, respectively.
The proceeds from the common share issue will be used for registering permit applications required to move the company's 100%-owned, Captain North Extension (CNE) lead-zinc-silver, open-pit deposit in New Brunswick towards production, and for general corporate purposes. Registration documents for the project are nearing completion, and will be submitted shortly for screening by the Provincial and Federal mining and environmental regulatory bodies.
The proceeds from the flow-through share issue will be used primarily for exploration of Stratabound's wholly-owned and optioned claims adjoining the CNE Mining Lease for both lead-zinc-silver and copper-gold mineralization.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing its gold and base metal properties in eastern Canada. It is currently focused on bringing the CNE 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 securities laws.
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