CALGARY, Alberta, Nov. 24, 2017 (GLOBE NEWSWIRE) -- Stratabound Minerals Corp. (TSX-V:SB) (“Stratabound” or “the Company”) announces that it has completed all due diligence and waived the due diligence requirement on the Golden Culvert Gold Project located in the Upper Hyland Valley in the southeastern Yukon Territory. The Company has signed a letter of intent and is the final stages of negotiation of a definitive agreement for the purchase of the option for the property from South Shore Partnership Inc. The Company has recently given a presentation regarding Golden Culvert at the recent Yukon Geoscience Forum in Whitehorse, and that presentation is now posted on Stratabound’s web site.
Stratabound Minerals Corp. is also pleased to announce a private placement financing of 3,000,000 units (the “Units”) of the Company, at a price of $0.05 per Unit, for gross proceeds of $150,000. Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable for one common share at $0.075 for 24 months from the date of issue. The private placement has been fully subscribed by the Company’s largest shareholder, William Bell (Bellport Resources Ltd.)
The Company will not pay any finder’s fee in respect of the private placement. All securities issued under the private placement will be subject to a four-month hold period.
