By Devika Patel
Knoxville, Tenn., April 26 - Stratabound Minerals Corp. announced it settled a C$1.53 million private placement of units. The deal priced for C$1.5 million on March 24 and the company raised C$1 million on April 12.
The company sold 4,444,443 units at C$0.225 apiece to the MineralFields Group; it sold 2,367,500 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. was 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.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$1,532,687
|
| Units: | 6,811,943
|
| Price: | C$0.225
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35 in the first year, C$0.40 thereafter
|
| Agent: | Non-brokered (for C$500,000), Limited Market Dealer Inc. (for C$1 million)
|
| Investor: | MineralFields Group (for C$1 million)
|
| Pricing date: | March 24
|
| Settlement date: | April 12 (for C$1 million), April 26 (for C$532,687)
|
| Stock symbol: | TSX Venture: SB
|
| Stock price: | C$0.175 at close March 23
|
| Market capitalization: | C$10.4 million
|
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