Toronto, Ontario--(Newsfile Corp. - February 10, 2020) - Jerritt Canyon Canada Ltd., a company controlled by Eric Sprott ("Sprott") announces that it has filed an early warning report (the "Report") announcing that, on December 9, 2019, it acquired ownership and control over 4,000,000 units (the "Acquired Units") of Stratabound Minerals Corp. ("Stratabound"). Each Unit is comprised of one common share in the capital of Stratabound (each, a "Common Share") and one half of one whole Common Share purchase warrant (each whole warrant, a "Warrant") (the "Offering"). Prior to acquiring the Acquired Units, Sprott did not beneficially own any securities of Stratabound. Sprott beneficially owns approximately 9.08% of the issued and outstanding Common Shares on a non-diluted basis and approximately 13.04% on a partially diluted basis. The Acquired Units were purchased pursuant to a private placement financing at a price of $0.05 per Acquired Unit.
The Acquired Units were acquired for investment purposes. Sprott has a long-term view of the investment and may acquire additional common shares of Stratabound either on the open market or through private acquisitions or sell the common shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR.
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