SB: TSX Venture Exchange
Issued: 72,027,611 shares
CALGARY, June 28, 2012 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) reports that the previously announced sale of its 40% interest in the Elmtree gold property in New Brunswick has closed. Stratabound has received $100,000 in cash and 10,000,000 shares of Winston Resources Inc. which currently trades on the Canadian National Stock Exchange (CDNX) under the trading symbol WRW. Another $200,000 will be received in equal installments on December 22, 2012 and June 22, 2013.
As holding 10,000,000, common shares of Winston is not part of Stratabound's business strategy, the board has declared a special dividend of these shares to Stratabound's shareholders of record on July 15, 2012. This eligible dividend will see each shareholder of record receive 0.138 Winston share for each Stratabound share held. Winston is planning an aggressive drill program on the Elmtree property. Stratabound shareholders can therefore benefit directly from any future positive developments at Elmtree or at Winston's properties located in Ontario's James Bay Lowlands area known as the "Ring of Fire".
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing base metal and gold properties in eastern Canada. It is currently focused on bringing the CNE lead-zinc-silver deposit into production in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
Neither 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, 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.
Stan Stricker, P. Geol, President