Stratabound and California Gold Announce Completion of Arrangement
Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound") and California Gold Mining Inc. (CSE: CGM) ("California Gold") are pleased to announce today the completion of the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (Ontario) pursuant to which Stratabound has acquired all of the issued and outstanding common shares of California Gold (the "California Gold Shares").
- Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound") and California Gold Mining Inc. (CSE: CGM) ("California Gold") are pleased to announce today the completion of the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (Ontario) pursuant to which Stratabound has acquired all of the issued and outstanding common shares of California Gold (the "California Gold Shares").
- On closing of the Arrangement, an aggregate of approximately 65,108,269 shares of Stratabound (each a "Stratabound Share") were issued to shareholders of California Gold ("California Gold Shareholders") at an exchange ratio of 1.00 Stratabound Share for each outstanding California Gold Share.
- In connection with the Arrangement, all outstanding options of California Gold were cancelled, and all outstanding common share purchase warrants of California Gold were exchanged for replacement warrants of Stratabound exercisable to acquire that number of Stratabound Shares equal to the number of California Gold Shares that the holders of the exchanged warrants would have acquired if such holders had exercised such warrants immediately prior to the effective time of the Arrangement.
- California Gold Mining Inc.'s flagship Fremont gold project located in Mariposa County, California lies within California's prolific Mother Lode Gold Belt.