SOURCE: Stratabound Minerals Corp.

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July 07, 2017 07:30 ET

Stratabound Announces Reelection of Directors and Closing of Private Placement

TORONTO, ON--(Marketwired - July 07, 2017) - Stratabound Minerals Corp. (TSX VENTURE: SB) ("Stratabound" or "the Company") is pleased to announce that at its Annual General and Special Meeting of Shareholders held on June 28, 2017 all of the directors of the Company were reelected with more than 99.5% of the votes cast. The Company's directors include Terrence Byberg, President and CEO; Margaret Kent, Chairman; Michael Page, VP Exploration; R.M. (Mike) Robb; and Peter Calder.

The Company also announces that it has closed a private placement financing of 3,140,440 units (the "Units") of the Company, at a price of $0.05 per Unit, for gross proceeds of $157,022. Each Unit consisted 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.

Certain insiders of the Company have acquired Units under 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. The Company did not pay any finder's fees in respect of the private placement.

The proceeds of the private placement will be used by the Company to finance the Company's continued pursuit of an accretive acquisition and for general corporate purposes.

President and CEO Terry Byberg commented, "We are pleased to announce this private placement which will support the Company in its efforts as we continue to pursue an accretive acquisition that will provide a basis to transition Stratabound into a development / operating company. We have reviewed a number of possible opportunities over the past year and are now focused on a project that is a good fit for Stratabound and its corporate strategy."

About Stratabound Minerals Corp.

Stratabound Minerals Corp. is a public company focused on the exploration of its base metal properties in New Brunswick and the acquisition of base and precious metals properties in the Americas which are producing or capable of restarting operations within eighteen months or less.

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 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.

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