Eric Sprott Increases Ownership in Stratabound Minerals to 19.05% Through Jerritt Canyon Canada
Eric Sprott Increases Ownership in
Stratabound Minerals to 19.05% Through
Jerritt Canyon Canada
Toronto, Ontario--(Newsfile Corp. - July 8, 2020) - Stratabound Minerals Corp. (TSXV: SB)
("
Stratabound
" or "the
Company
") is pleased to report that Jerritt Canyon Canada Ltd., a company
controlled by Mr. Eric Sprott ("
Sprott
"), has filed an early warning report (the "
Report
") announcing that,
on July 3, 2020, it acquired ownership and control over 3,000,000 common shares (the "
Acquired
Shares
") of Stratabound Minerals Corp. ("
Stratabound
") through a secondary market share purchase
transaction at a price of $0.05 per Acquired Share. Prior to acquiring the Acquired Shares, Sprott
beneficially owned and controlled, directly or indirectly, 4,000,000 common shares of Stratabound and
2,000,000 common share purchase warrants of Stratabound. Following the acquisition of the Acquired
Shares, Sprott beneficially owns and controls, directly or indirectly, an aggregate of 7,000,000 common
shares of Stratabound and an aggregate of 2,000,000 common share purchase warrants of
Stratabound, representing approximately 15.47% of Stratabound's issued and outstanding common
shares on an undiluted basis and approximately 19.05% of Stratabound's issued and outstanding
common shares on a partially diluted basis.
For further details relating to the acquisition, please see the Report, a copy of which is available on
SEDAR.
Mr. R. Kim Tyler, President and CEO of the Stratabound Minerals stated, "We are very pleased with the
continued support of Mr. Sprott through his control position with Jerritt Canyon Canada Ltd. as a
significant investor in Stratabound.
We see 2020 as a watershed year for us as we continue to build on
our past successes developing our Yukon and New Brunswick gold and base metals projects as well as
new acquisitions being contemplated going forward. The Company will be sharing more details on its
plans for 2020 in an upcoming press release."
About Stratabound
Stratabound Minerals Corp. is a Canadian exploration and development company focused on gold
exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Iron Oxide-
Copper-Gold (IOCG) Project, New Brunswick, Canada.
The Company also holds a significant land
position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick
featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated
Resource.
About Jerritt Canyon Canada Ltd.
Jerritt Canyon Canada Ltd. is 100% privately owned by Eric Sprott and is the parent company of Jerritt
Canyon Gold LLC, a private, growing mid-tier North American gold producer with its primary operating
asset, the Jerritt Canyon Mine located 50 miles north of Elko, Nevada.
Mr. Gary Nassif, Senior Vice
President of Jerritt Canyon Gold LLC, is also a Director on the Board of Stratabound.
For further information contact:
R. Kim Tyler, President and CEO
416-915-4157
www.stratabound.com
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.
Not for distribution to U.S. newswire services for dissemination in the United States of America. Any
failure to comply with this restriction may constitute a violation of U. S. securities law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/59328