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Source: Stratabound Minerals
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  • Stratabound Minerals (SB) has closed the first tranche of its non-brokered private placement for gross proceeds of $171,179.76
  • The company has also completed the first tranche of its non-brokered FT unit private placement for gross proceeds of $361,200.08
  • Proceeds will be used for exploration expenses to maintain its exploration properties and for general corporate working capital purposes
  • Stratabound Minerals is an exploration and development company focused on mineral properties in California, New Brunswick and the Yukon
  • Stratabound Minerals Corp. (SB) opened trading at C$0.09 per share

Stratabound Minerals (SB) has closed the first tranche of its non-brokered private placement for gross proceeds of $171,179.76.

The company issued 1,426,498 units at $0.12 per unit. Each unit consists of one common share and one half of a warrant. Each whole warrant entitles the holder to purchase one additional common share at $0.25 for a period of two years from the date of closing. The warrant also contains an acceleration clause. If the common shares trade at $0.40 for 10 days the company has the right to accelerate the expiration date upon 30 days’ notice.

Securities issued pursuant to this tranche are subject to trading restrictions until February 27, 2022.

Proceeds will be used for exploration expenses to maintain the respective exploration properties and for general corporate working capital purposes.

The company has also completed the first tranche of its non-brokered FT unit private placement for gross proceeds of $361,200.08. Each FT unit is comprised of one common share and one-half of a warrant issued on a flow-through basis. One whole warrant will entitle the holder to purchase one non-flow-through common share at $0.25 for a period of 1 year from the date of issue. If the common shares trade at $0.35 for 10 days the company has the right to accelerate the expiration date upon 30 days’ notice.

Securities issued pursuant to this tranche are subject to trading restrictions until February 27, 2022.

Proceeds will be used for qualifying exploration expenditures on the company’s Canadian exploration properties.

Stratabound Minerals is an exploration and development company focused on mineral properties in California, New Brunswick and the Yukon.

Stratabound Minerals Corp. (SB) opened trading at C$0.09 per share.

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