By Devika Patel
Knoxville, Tenn., March 24 - Stratabound Minerals Corp. announced it plans a C$1.5 million private placement of units.
The company will sell 4,444,443 units at C$0.225 apiece to the MineralFields Group. It will sell 2,222,222 units at the same price to other investors in a non-brokered offering. The units consist of one flow-through common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.35 in the first year and at C$0.40 thereafter.
Limited Market Dealer Inc. is the agent for the MineralFields portion of the placement.
Proceeds will be used for exploration.
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.
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Issue: | Units of one flow-through common share and a half-share warrant
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Amount: | C$1.5 million
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Units: | 6,666,665
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Price: | C$0.225
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.35 in the first year, C$0.40 thereafter
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Agent: | Non-brokered (for C$500,000), Limited Market Dealer Inc. (for C$1 million)
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Investor: | MineralFields Group (for C$1 million)
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Pricing date: | March 24
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Stock symbol: | TSX Venture: SB
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Stock price: | C$0.175 at close March 23
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Market capitalization: | C$12 million
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