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Stratabound Announces Completion of Shares for Debt Transaction
Toronto, Ontario--(Newsfile Corp. - December 14, 2023) - Stratabound Minerals Corp. (TSXV: SB) (...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Stratabound Announces Completion of Shares for Debt TransactionToronto, Ontario--(Newsfile Corp. - December 14, 2023) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) (\"Stratabound\" or the \"Company\") announces that it has completed the previously announced shares for debt transaction with R.W. Tomlinson Ltd. The Company entered into a Shares for Debt Amending Agreement with R.W. Tomlinson Ltd., pursuant to which it has agreed to issue 57,063,722 common shares at $0.025 per share to settle a Company debt in the amount of $1,426,593.05 owing to R. W. Tomlinson Ltd. under a note the Company assumed with the acquisition of California Gold Mining Inc. and its subsidiaries.The Company shares issued are subject to a statutory 4-month hold period.There are no finders' fees or commissions payable in connection with the Debt Settlement transaction.About Stratabound Minerals Corp.Stratabound Minerals Corp. is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn Basin.Its McIntyre Brook Project, New Brunswick, covering 120 km2 and a 17-km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project hosts an NI 43-101 resource of 1.16 MMoz at 1.90 g/t Au within 19.0 MMt Indicated, and 2.02 MMoz at 2.22 g/t Au within 28.3 MMt Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont pr...