OTTAWA, Dec. 19, 2023 (GLOBE NEWSWIRE) -- R.W. Tomlinson Ltd. (the “RWT” or the “Company”) announces that it has acquired 57,063,722 common shares of Stratabound Minerals Corp. (“Stratabound” or the “Issuer”) pursuant to a shares for debt transaction with Stratabound.
The Issuer entered into a shares for debt amending agreement with RWT, pursuant to which it was agreed to issue 57,063,722 common shares at $0.025 per share to settle a company debt in the amount of $1,426,593.05 owing to RWT under a note the Issuer assumed with the acquisition of California Gold Mining Inc. and its subsidiaries (Debt Transaction).
As a result of the Debt Transaction, RWT acquired 57,063,722 common shares, representing approximately 20.61% of the total issued and outstanding share capital of Stratabound.
Together with the previously owned common shares, the Acquiror owns and controls 67,008,359 common shares of Stratabound, representing approximately 24.21% of the total issued and outstanding share capital of Stratabound and 300,000 warrants that if exercised, together represent approximately 24.29% of the total issued and outstanding common shares of Stratabound. William Tomlinson owns and controls 6,250,000 common shares of Stratabound, representing approximately 2.25% of the total issued and outstanding share capital of Stratabound and 1,000,000 options that if exercised, together represent approximately 2.61% of the total issued and outstanding share capital of Stratabound. Ron Tomlinson owns and controls 1,000,000 options that if exercised, represent approximately 0.36% of the total issued and outstanding share capital of Stratabound. The Acquiror and William Tomlinson together own and control an aggregate of 73,258,359 common shares of the Corporation, representing an aggregate 26.47% of the total issued and outstanding share capital of Stratabound.
The foregoing disclosure is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting. A copy of the early warning report will be available on SEDAR+ at www.sedarplus.ca.
For more information, please contact:
Christopher Flann
Vice President Finance
Tel: (613) 822-1867
