New York, New York–(Newsfile Corp. – December 29, 2022) – Coast Capital Midas Master Fund LP (“Coast”) announces that on December 21, 2022 it has acquired ownership of 30,000,000 units (the “Units“) of Stratabound Minerals Corp. (“Stratabound”) at a price of $0.05 per Unit pursuant to a non-brokered private placement (the “Private Placement“). Each Unit consists of one common share (the “Shares“) and one common share purchase warrant (the “Warrants“) exercisable into Shares of Stratabound at a price of $0.07 per Share until December 22, 2024.
Prior to the closing of the Private Placement, Coast held 41,365,216 Shares of Stratabound or 22.54% of the issued and outstanding Shares of Stratabound prior to the closing of the Private Placement.
As a result of the closing of the Private Placement, Coast holds, on a non-diluted basis, a total of 71,365,167 Shares representing 33.26% of Stratabound’s issued and outstanding Shares and, on a diluted basis, Coast would hold a total of 101,365,167 Shares, representing approximately 47.24% of Stratabound’s issued and outstanding Shares, should all of its Warrants be exercised and no others are exercised.
The Shares were acquired by Coast for investment purposes. Coast may increase or decrease its ownership of securities of Stratabound as the circumstances or market conditions warrant.
To obtain a copy of the early warning report filed by Coast, please contact R. Kim Tyler, Chief Executive Officer of Stratabound at 416 915-4157 or refer to Stratabound’s SEDAR profile at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149839