By Devika Patel
Knoxville, Tenn., Dec. 14 - Stratabound Minerals Corp. said it has completed a private placement of shares, raising a total of C$2,487,963.15.
The deal priced on Oct. 26 for C$1,125,000. The company lowered the share prices and revised the terms of the sale to raise C$1,135,000, which included a 10% greenshoe, on Nov. 28. It settled a C$681,874.50 tranche on that day as well.
In the first tranche, Stratabound Minerals sold 1,036,466 common shares at C$0.375 each for C$388,674.75 and 651,555 flow-through shares at C$0.45 per share for C$293,199.75. It sold 100,000 common shares and 3,930,197 flow-through shares at those prices in Friday's tranche.
It sold a total of 1,136,466 common shares for C$426,174.75 and 4,581,752 flow-through shares total for C$2,061,788.40.
On Nov. 28, the company said it planned to issue a total of 2.75 million shares. Of those shares, 250,000 were to be part of the greenshoe. The shares were to be divided into a combination of flow-through shares priced at C$0.45 and common shares priced at C$0.375.
When the deal priced, the company said it planned to sell a total of 1.25 million shares at C$0.40 per share for C$500,000 and up to 1.25 million flow-through shares at C$0.50 per share for C$625,000.
Emerging Equities Inc. was the agent and was paid a C$154,152.62 cash commission.
Proceeds will be used for exploration and for general working capital.
Based in Calgary, Alta., Stratabound Minerals is a natural resource company exploring gold and base metal properties in northern New Brunswick and gold/base metal and diamond/gold prospects in central and northwest Quebec.
| Issuer: | Stratabound Minerals Corp.
|
| Issue: | Shares, flow-through shares
|
| Amount: | C$2,487,963.15
|
| Agent: | Emerging Equities Inc.
|
| Fees: | C$154,152.62
|
| Pricing date: | Oct. 26
|
| Revised: | Nov. 28
|
| Settlement date: | Dec. 14
|
| Stock symbol: | TSX Venture: SB
|
| Stock price: | C$0.45 at close Oct. 26
|
|
|
| Common shares
|
| Amount: | C$426,174.75
|
| Shares: | 1,136,466
|
| Price: | C$0.375
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Amount: | C$2,061,788.40
|
| Shares: | 4,581,752
|
| Price: | C$0.45
|
| Warrants: | No
|
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