Strongbow Exploration Inc.

Strongbow Exploration Inc.

July 12, 2007 15:37 ET

Strongbow Closes Brokered Flow Through Private Placement of $4,003,500

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2007) -


Strongbow Exploration Inc. (TSX VENTURE:SBW) is pleased to announce the Closing of a brokered private placement through a syndicate led by Haywood Securities Inc. and including Canaccord Capital Corporation (collectively, the "Agents") of 4,710,000 flow through units of the Company at a price of $0.85 per flow through unit for gross proceeds of $4,003,500. 2,355,000 of the flow through units were "super flow through" units and qualify for enhanced tax benefits available to purchasers in British Columbia only. Each flow through unit (a "FT Unit") consisted of one flow through share (a "FT Share") and one-half of one common share purchase warrant (each whole such purchase warrant being a "Warrant"). Each Warrant is transferable and can be exercised into one common share at a price of $1.10 for a period of eighteen months from Closing. Insiders of Strongbow purchased 20,000 FT Units.

The net proceeds from the Unit offering will be used to fund exploration of Strongbow's Snowbird nickel project properties, including the Nickel King property, and its gold properties in the Spences Bridge gold belt, including the Skoonka Creek gold property.

The Agents have received a fee (the "Fee") of 7% of the gross proceeds from the sale of the FT Units. The Fee has been paid $56,251.30 in cash and $223,993.70 in compensation units. A total of 263,522 compensation units were issued at $0.85 per unit and consisted of one common share of the Company (a "Compensation Share") and one half of one common share purchase warrant, with each whole such warrant (a "Compensation Warrant") having the same terms as the Warrants. The Agents have also been issued Compensation Options equal to 8% of the number of FT Units sold by the Company, entitling the Agents to subscribe for 376,800 shares of the Company at $0.85 per common share exercisable for a period of eighteen (18) months from the date of the Closing.

The FT Shares, Warrants, Compensation Shares, Compensation Warrants, Compensation Options and common shares issuable on the exercise of the Warrants, Compensation Warrants and Compensation Options are all subject to a four month hold period expiring November 13, 2007.


Kenneth A. Armstrong, President and CEO

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.

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