Units consists of flow-through, non-flow-through shares and warrants
By Angela McDaniels
Tacoma, Wash., Sept. 2 – Stratabound Minerals Corp. closed the final tranche of a C$1 million non-brokered private placement of units on Aug. 29. The company priced the deal June 5 and closed the first tranche for C$325,000 on June 18. The final tranche was for C$675,000.
The company sold 4 million units at C$0.25 per unit, according to a company news release.
Each unit consists of four flow-through shares, one non-flow-through share and two and a half warrants.
Each whole warrant is exercisable for one share for two years at C$0.10 per share, which is a 300% premium to the company’s C$0.025 closing share price on June 4.
Insiders participated for 82.1% of the placement.
Proceeds are being used for exploration on the company’s New Brunswick properties and for general working capital.
Stratabound is a Calgary, Alta.-based company that explores and develops gold and base metal properties.
| Issuer: | Stratabound Minerals Corp.
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| Issue: | Units of four flow-through shares, one non-flow-through share and two and a half warrants
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| Amount: | C$1 million
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| Units: | 4 million
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| Price: | C$0.25
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| Warrants: | Two and a half warrants per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.10
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| Agent: | Non-brokered
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| Pricing date: | June 5
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| Settlement dates: | June 18 (for C$325,000) and Aug. 29 (for C$675,000)
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| Stock symbol: | TSX Venture: SB
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| Stock price: | C$0.07 at close Sept. 2
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| Market capitalization: | C$6.3 million
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