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Stratabound Minerals Announces Non-Brokered $1.5 Million Financing

2024-01-03 13:26 ET - News Release

Toronto, Ontario--(Newsfile Corp. - January 3, 2024) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") is pleased to announce a non-brokered financing for $1,500,000 by issuing 60,000,000 units at $0.025 per unit.

Each $0.025 unit shall consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.05 per common share for a period of two years following the date of closing. The Company may accelerate the expiry date if the shares trade at $0.30 or more for a period of 10 days, including days where no trading occurs. The closing of the offering is expected to occur one business day following receipt of all required regulatory approvals. The offering may be closed in one or more tranches. The total number of units issued in connection with the offering may be changed at the Company's sole discretion.

The exchange rules require all warrants to be issued at $0.05 or higher. In the context of the current market for the Company's securities, the Company would have liked to offer a warrant at $0.035. The warrants offered herein will contain price adjustment provisions to adjust pricing to $0.035 if circumstances change so as to allow that.

The Company will pay finders' fees to eligible arm's-length persons with respect to subscriptions accepted by the Company.

Hashim Ahmed, Chairman of Stratabound commented: "We are pleased to announce a financing round supported with lead orders from our current major shareholders and new strategic investors. In this market, it is important to have sponsors and we currently have two; we are seeking a third. We have a portfolio of high-potential assets with concrete restructuring and growth plans in the works. There are key initiatives and catalysts planned for 2024. With historic high gold prices, and a newly strengthened management team - addition of Wendy T. Chan (who has successfully completed many strategic reorganization, marketing, and corporate development initiatives at mining companies) as Interim CEO, Buddy Dole (who has a proven track record in exploration and discoveries) as VP Exploration, and Marty Stratte (who previously was on the team that permitted Equinox Gold's Castle Mountain in California) as a recently appointed Director, we now have the leadership and execution team to successfully take the Company to the new levels."

The proceeds raised from the offering will go towards high resolution magnetics and drill targeting at our McIntyre Brook property (New Brunswick), data review and targeting to leverage a new RIRGS exploration model at Golden Culvert and Win projects (Southern Tombstone Gold Belt, Yukon), and drill target generation testing a large, high-grade conceptual model at our Fremont Gold project (Mother Lode Gold Belt, California).

ABOUT STRATABOUND MINERALS

Stratabound Minerals Corp. is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.

Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn Basin.

Its McIntyre Brook Project, New Brunswick, covering 120 km2 and a 17-km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project hosts an NI 43-101 resource of 1.16 MMoz at 1.90 g/t Au within 19.0 MMt Indicated, and 2.02 MMoz at 2.22 g/t Au within 28.3 MMt Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property that features four gold-mineralized zones. Significantly, three step-out holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on private land in Mariposa, the original gold rush county and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail. Please refer to the Fremont Gold project PEA dated Apr. 4, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

The Company also holds a pipeline of early-stage exploration projects including the critical mineral Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.

QUALIFED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

For more information, please visit the Company's website at www.stratabound.com or contact:

Gary Nassif 
Senior Vice President, Director 
info@stratabound.com 
+1 (416) 915-4157

Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext 702

Forward-Looking Statements

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193064

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