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TORONTO, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Stratabound Minerals Corp. (TSXV:SB) (“Stratabound” or “the Company”) wishes to correct the record date of the previously announced private placement (the “Private Placement”) for purposes of the existing security holder exemption in B.C. Instrument 45-534 (Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders) and as further described in Multilateral CSA Notice 45-313 (Prospectus Exemption for Distributions to Existing Security Holders (published March 13, 2014)) from February 16, 2018 as originally stated to the corrected date of February 22, 2018.
All other terms of the Private Placement remain as originally announced. The Private Placement offering is for up to 7,272,727 units (the “Units”) of the Company, at a price of $0.055 per Unit, for gross proceeds of up to $400,000. Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable for one common share at $0.08 for 24 months from the date of issue. The Company’s major shareholder has subscribed for the lead order of the Private Placement.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Completion of the Offering remains subject to acceptance by the TSX Venture Exchange. A fee of up to 7% cash and 7% broker warrants will be paid to participating registrants who introduce investors who subscribe to the Private Placement. Any broker warrants issued will be exercisable for one common share at the above-stated Unit price for 18 months from the date of issue.
For further information contact:
R. Kim Tyler, President and CEO
416-915-4157
info@stratabound.com
www.stratabound.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.