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Stratabound announces financing for drill program
SB: TSX Venture Exchange Issued: 75,887,611 shares CALGARY , Oct. 1, 2013 ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nSB: TSX Venture Exchange\n\n\nIssued: 75,887,611 shares\n\n\nCALGARY, Oct. 1, 2013 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) has undertaken, subject to regulatory approval, a private placement of\n up to 2,500,000 Units at $0.10 per Unit for gross proceeds of up to\n $250,000 to be issued on a flow through basis.  Each Unit consists of\n one common share of the Company and one share purchase warrant\n entitling the holder to subscribe for one additional share at $0.20 for\n 5 years from closing.   Insiders will participate for a minimum of 80%\n of the placement.\n\n\nThe proceeds from the share issue will be used for drilling and\n geophysical surveys on the Company's 100%-owned CNE Mining Lease and\n CNE/Captain claim groups, as well as on adjacent claims optioned from\n Commander Resources Ltd., on which Stratabound can earn up to a 65%\n interest.\n\n\nStratabound will be drilling geophysical features that may reflect\n volcanogenic massive sulphides with zinc-lead-silver or copper-gold\n mineralization.\n\n\nStratabound and Commander have agreed to extend Stratabound's third-year\n expenditure obligation deadline on the Commander claims to December 31,\n 2013.  In consideration for doing so, Stratabound will, subject to\n regulatory approval, issue 25,000 shares to Commander.\n\n\nStratabound has completed its reclamation program at the CNE Mine as per\n the reclamation plan that was filed with the Government of New\n Brunswick and is awaiting approval for return of the reclamation bond\n ($720,000).  Discussions are ongoing with the provincial and federal\n authorities concerning ongoing water quality monitoring to confirm that\n it can cease water treatment activities and have its environmental bond\n also released ($130,000).\n\n\nThe technical information contained in this release has been reviewed by\n Stan Stricker, P.Geol., a Qualified Person as defined in National\n Instrument 43-101.\n\n\n\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\nWARNING: the Company relies upon litigation protection for \"forward\n looking\" statements. The information in this release may contain\n forward-looking information under ...