Business
Stratabound Minerals Corp. Closes First Tranche of Non-Brokered Private Placements
Toronto, Ontario--(Newsfile Corp. - October 26, 2021) - Stratabound Minerals Corp. (TSXV:SB) ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Stratabound Minerals Corp. Closes First Tranche of Non-Brokered Private PlacementsToronto, Ontario--(Newsfile Corp. - October 26, 2021) - Stratabound Minerals Corp. (TSXV:SB) (OTCQB:SBMIF) (\"Stratabound\" or the \"Company\") announced the closing on October 26, 2021, of the first tranche of $171,179.76 (1,426,498 units) of its non-brokered private placement (\"Private Placement\") announced on October 18, 2021. Each unit consists of one common share and one half of a warrant. Each whole warrant entitles the holder to purchase one additional common share at $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 $0.40 for 10 days the Company has the right to accelerate the expiration date upon 30 days' notice.Securities issued pursuant to this tranche are subject to trading restrictions until February 27, 2022.An insider of the Company subscribed for an aggregate of 50,063 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. Proceeds will be used for exploration expenses to maintain the respective exploration properties and for general corporate working capital purposes.The Company also announced it has completed the first tranche of $361,200.08 (3,010,001 units) of its non-brokered Flow Through Unit private placement. Each Flow-Through Unit is comprised of one common share and one-half of a warrant and is issued on a flow through basis for Canadian tax purposes. One whole warrant will entitle the holder thereof to purchase one non flow-through common share at $0.25 for a period of 1 year from the date of issue. The warrant also contains an acceleration clause wherein if the common shares trade at $0.35 for 10 days the Company has the right to accelerate the expiration date upon 30 days' notice. Securities issued pursuant to this tranche are subject to trading restrictions until February 27, 2022.Two insiders of the Company subscribed for an aggregate of 192,000 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of M...