Stratabound Completes Private Placement with MineralFields Group
NEWS RELEASE
SB: TSX Venture Exchange Issued: 59,157,611 shares
Stratabound Completes Private Placement with MineralFields Group
Calgary, April 15, 2010 - Stratabound Minerals Corp. (TSX.V:SB) is pleased to announce the closing of its previously announced private placement with MineralFields Group on April 12, 2010, of $1,000,000.00 through the sale of 4,444,443 flow-through units ("FT Units") at $0.225 each.
Each unit consists of one flow-through share and one half of a non-flow-through share purchase warrant. Each whole warrant is exercisable for two years from closing at an exercise price of $0.35 per common share in year 1 and at $0.40 per common share in year
2. The shares issued on this closing are subject to a hold period under applicable securities laws, expiring on August 13, 2010.
Limited Market Dealer Inc., the exclusive agent for MineralFields, received a finder's fee in respect to the Units issued to MineralFields consisting of a 5% cash commission and options equal to 8% of the number of units issued, each option exercisable into a unit consisting of a common share and a half of a common share purchase warrant on the same terms and conditions above.
The Corporation plans to use the proceeds from these financings to further its exploration program on its New Brunswick and other Canadian properties.
"We are very pleased to be renewing our relationship with MineralFields Group", said Stan Stricker, President and CEO of Stratabound. "We look forward to working with MineralFields Group as we develop our holdings in the Bathurst region."
About Mineralfields, Pathway and First Canadian Securities
MineralFields Group (a division of Pathway Asset Management) based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flowthrough and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing its 100%owned gold and base metal properties in eastern Canada. It is currently focused on building a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
The contents of this news release have been reviewed and approved by Stan Stricker, P.Geol., a Qualified Person as defined in National Instrument 43-101.
For further information contact: Stan Stricker, P. Geol, President 403-258-3630 [email protected] www.stratabound.com
Neither 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 material 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, 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.