Toronto, Ontario--(Newsfile Corp. - July 8, 2020) - Stratabound Minerals Corp. (TSXV: SB) ("Stratabound" or "the Company") is pleased to report that Jerritt Canyon Canada Ltd., a company controlled by Mr. Eric Sprott ("Sprott"), has filed an early warning report (the "Report") announcing that, on July 3, 2020, it acquired ownership and control over 3,000,000 common shares (the "Acquired Shares") of Stratabound Minerals Corp. ("Stratabound") through a secondary market share purchase transaction at a price of $0.05 per Acquired Share. Prior to acquiring the Acquired Shares, Sprott beneficially owned and controlled, directly or indirectly, 4,000,000 common shares of Stratabound and 2,000,000 common share purchase warrants of Stratabound. Following the acquisition of the Acquired Shares, Sprott beneficially owns and controls, directly or indirectly, an aggregate of 7,000,000 common shares of Stratabound and an aggregate of 2,000,000 common share purchase warrants of Stratabound, representing approximately 15.47% of Stratabound's issued and outstanding common shares on an undiluted basis and approximately 19.05% of Stratabound's issued and outstanding common shares on a partially diluted basis.
For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR.
Mr. R. Kim Tyler, President and CEO of the Stratabound Minerals stated, "We are very pleased with the continued support of Mr. Sprott through his control position with Jerritt Canyon Canada Ltd. as a significant investor in Stratabound. We see 2020 as a watershed year for us as we continue to build on our past successes developing our Yukon and New Brunswick gold and base metals projects as well as new acquisitions being contemplated going forward.
The Company will be sharing more details on its plans for 2020 in an upcoming press release."
Stratabound Minerals Corp. is a Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Iron Oxide-Copper-Gold (IOCG) Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
About Jerritt Canyon Canada Ltd.
Jerritt Canyon Canada Ltd. is 100% privately owned by Eric Sprott and is the parent company of Jerritt Canyon Gold LLC, a private, growing mid-tier North American gold producer with its primary operating asset, the Jerritt Canyon Mine located 50 miles north of Elko, Nevada. Mr. Gary Nassif, Senior Vice President of Jerritt Canyon Gold LLC, is also a Director on the Board of Stratabound.
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Neither the 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 materially 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, failure to obtain regulatory, exchange or shareholder approval, 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.
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