- Stratabound Minerals (SB) has closed its C$1,935,631 flow-through and unit financing
- It will use the proceeds for qualifying Canadian exploration expenses, general maintenance and working capital purposes
- Company insiders participated in both financings
- Stratabound Minerals is a mineral development company focused on projects in Canada and the U.S.
- Stratabound Minerals (SB) is down by 5.26 per cent and is currently trading at $0.09 per share
Stratabound Minerals (SB) has closed its C$1,935,631 flow-through and unit financing.
In the first tranche of its non-brokered flow-through unit private placement, the company sold 3,010,001 units raising $361,200.08.
In the second and final tranche, it sold 2,427,067 units raising $291,248.04.
Two insiders subscribed for an aggregate 192,000 common shares on the first tranche.
Each flow-through unit is comprised of one common share and one-half of one warrant.
Each warrant entitles the holder to purchase one non flow-through common share for $0.25 for one year from the date of issue, subject to acceleration with 30 days’ notice.
Stratabound will use the proceeds for qualifying exploration expenditures on its Canadian exploration properties.
The company also closed the final tranche of its non-brokered common share unit private placement.
In the first tranche, it sold 1,426,498 units raising $171,179.76.
In the second and final tranche, it sold 9,266,701 units raising $1,112,004.08.
A company insider subscribed for an aggregate 50,063 common shares in the first tranche.
Each common share unit is comprised of one common share and one-half of one warrant.
Each warrant entitles the holder to purchase one common share for $0.25 for two years from the date of issue, subject to acceleration with 30 days’ notice.
The company will use unit proceeds to maintain its exploration properties and for general corporate and working capital purposes.
Stratabound Minerals is a mineral development company focused on projects in Canada and the U.S.
Stratabound Minerals (SB) is down by 5.26 per cent and is currently trading at $0.09 per share as of 9:44 am ET.
