CALGARY, Alberta, Nov. 24, 2017 (GLOBE NEWSWIRE) — Stratabound Minerals Corp. (TSX-V:SB) (“Stratabound” or “the Company”) announces that it has completed all due diligence and waived the due diligence requirement on the Golden Culvert Gold Project located in the Upper Hyland Valley in the southeastern Yukon Territory. The Company has signed a letter of intent and is the final stages of negotiation of a definitive agreement for the purchase of the option for the property from South Shore Partnership Inc. The Company has recently given a presentation regarding Golden Culvert at the recent Yukon Geoscience Forum in Whitehorse, and that presentation is now posted on Stratabound’s web site.
Stratabound Minerals Corp. is also pleased to announce a private placement financing of 3,000,000 units (the “Units”) of the Company, at a price of $0.05 per Unit, for gross proceeds of $150,000. 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 $0.075 for 24 months from the date of issue. The private placement has been fully subscribed by the Company’s largest shareholder, William Bell (Bellport Resources Ltd.)
The Company will not pay any finder’s fee in respect of the private placement. All securities issued under the private placement will be subject to a four-month hold period.
For further information contact:
R. Kim Tyler, President and CEO
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.