Stratabound Announces Appointments to Board of Directors and Financings
Stratabound Announces Appointments to
Board of Directors and Financings
Toronto, Ontario--(Newsfile Corp. - October 18, 2021) -
Stratabound Minerals Corp. (TSXV: SB)
(OTCQB:SBMIF)
("Stratabound" or the "Company") is pleased to announce that Mr. Scott Rasenberg
and Mr. Ron Tomlinson have been appointed to the Board of Directors of Stratabound Minerals Corp.
Mr. Scott Rasenberg, CPA, CA is the President of Rasenberg-Group Limited. In this role, Mr.
Rasenberg provides innovative tax solutions to a broad range of clients, including private and public
corporations, partnerships, trusts, and individuals (residents and non-residents of Canada).
His
experience includes international and domestic tax structures, reorganizations, tax appeals and
compliance, acquisitions, mergers and divestitures in a diversity of sectors including manufacturing,
retail, transportation, financial and investment services, real estate, mining, agribusiness and a diverse
range of service industries.
During his career Mr. Rasenberg has managed administration and
implementation of company-wide programs for approximately 450 employees and been responsible for
significant procurements, treasury and capital asset management.
Mr. Rasenberg is the former
Chairman of the Board of California Gold Mining Inc. and the former Vice-President Finance &
Administration of J.M.R. Electric Ltd.
As CEO of the Tomlinson Group, Mr. Ron Tomlinson has over 35 years of experience in construction
materials, infrastructure, environmental services, and aggregates. He has executive-level expertise in
management, strategic acquisitions, real estate holdings, partnership and operations. The Tomlinson
Group has been producing quality aggregates for more than 40 years and has 25 licensed pits and
quarries situated through Eastern & Northern Ontario as well as providing environmental services, waste
recovery processing and leading technology in waste to organic fertilizer and recycling.
Mr. Tomlinson
led this evolution through organic growth and by acquisitions of business that vertically integrate into the
core lines of business. The company has grown geographically expanding across Ontario and into the
US markets.
Mr. Hashim Ahmed, Chairman of the Company stated, "We are extremely pleased to welcome both Mr.
Rasenberg and Mr. Tomlinson to the Board of Stratabound.
Both gentlemen bring a depth of experience
in infrastructure, environmental, construction operations and broad corporate business acumen that
compliments the Company's existing strengths in mineral exploration, mine development and
operations."
Financings
:
The Company also announces it is undertaking a non-brokered private placement of up to
CDN$2,500,000.
The Company will issue up to 20,833,333 units at a price of CDN$0.12 per unit.
Each
unit consists of one common share and one-half (1/2) of one common share purchase warrant (each
whole warrant, a "Warrant").
Each Warrant entitles the holder to purchase one additional common share
at CDN$0.25 for a period of two years from the date of closing.
The Warrant also contains an
acceleration clause wherein if the Common Shares trade at CDN$0.40 for 10 consecutive trading days
the Company has the right to accelerate the expiration date upon 30 days' notice to the holders.
Proceeds will be used for exploration expenses to maintain the respective exploration properties and for
general corporate working capital purposes.
The Company is also undertaking a non-brokered Flow-Through Unit private placement of up to
CDN$500,000.
The Company will issue up to 4,166,667 Flow-Through Units at a price of CDN$0.12 per
Flow-Through Unit. Each Flow-Through Unit will be comprised of one common share and one-half (1/2)
of one common share purchase warrant (each whole warrant, a "Warrant").
Each Warrant will entitle the
holder thereof to purchase one non-flow-through common share at CDN$0.25 for a period of 2 years
from the date of issue.
The Warrant also contains an acceleration clause wherein if the Common Shares
trade at CDN$0.35 for 10 consecutive trading days the Company has the right to accelerate the
expiration date upon 30 days' notice to the holders. Proceeds will be used for qualifying exploration
expenditures on the Company's Canadian exploration properties.
The Company will pay qualified finders fees of 6% in cash.
ABOUT STRATABOUND
Stratabound Minerals Corp. is a Canadian mineral exploration and development company that is
developing its advanced-stage flagship Fremont Gold Project in the Mother Lode Gold Belt of California.
The Project includes the historic, contiguous Pine Tree and Josephine high-grade underground gold
mines that closed due to the advent of WWII and never reopened.
The Pine Tree/Josephine
Deposit
,
encompassing both historical mines, now has an NI 43-101 Mineral Resource estimate of 526,000
ounces at an average grade of 1.60 g/t Au in the Indicated, plus 452,000 ounces at an average grade of
1.29 g/t Au in the Inferred Mineral Resource categories respectively. Additionally, Fremont hosts three
undeveloped gold occurrences across four kilometres of strike along the prolific Mother Lode Gold Belt.
(See Stratabound press release of Oct. 15, 2021)
The Company is also advancing its pipeline of other early-stage gold exploration projects; the Golden
Culvert, YT, McIntyre Brook, NB, and Dingman, ON, in Canada. Additionally, 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 a Measured and Indicated
Resource prepared following CIM (2014) Definition Standards.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose
of NI 43-101, has reviewed and approved the contents and technical information of this news release.
For more information, please visit the Company's website at
www.stratabound.ca
or contact: R. Kim
Tyler, President and CEO 416-915-4157
.
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/100014