Non-brokered deal funds exploration programs at Sleitat and Coal Creek
By Devika Patel
Knoxville, Tenn., March 12 – Strongbow Exploration Inc. said it increased a non-brokered private placement of units to C$1 million from C$500,000. The deal priced March 10.
The company will now sell 10 million units of one common share and a half-share warrant at C$0.10 per unit. The warrants are each exercisable at C$0.20 for two years. The strike price reflects a 100% premium to the March 9 closing share price of C$0.10.
Osisko Gold Royalties Ltd. has agreed to invest C$200,000.
Proceeds will be used for exploration programs at Sleitat and Coal Creek and working capital purposes
The nickel, gold, tin and copper exploration company is based in Vancouver, B.C.
| Issuer: | Strongbow Exploration Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Investor: | Osisko Gold Royalties Ltd. (for C$200,000)
|
| Pricing date: | March 10
|
| Upsized: | March 12
|
| Stock symbol: | TSX Venture: SBW
|
| Stock price: | C$0.10 at close March 9
|
| Market capitalization: | C$910,770
|
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