Private Placement Financing of up to CDN$1,040,000 Announced

Strongbow Exploration Inc. (TSXV:SBW) announced the intention to complete a non-brokered private placement of up to 8 million units of the Company at a price of CDN$0.13 per unit for gross proceeds of up to CDN$1,040,000.

As quoted in the press release:

Each Unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company for a period of 18 months from the closing date at a price of $0.20 per common share. Net proceeds from the private placement will be used to fund exploration activities at Strongbow’s Midway and Ridgeway gold projects in South Carolina as well as for general working capital.
Finder’s fees may be payable in cash, shares and/or warrants to acquire common shares in respect of sales made to arm’s length purchasers referred to Strongbow by finders.  The private placement and any finder’s fees, including any common shares or finder’s shares and/or warrants issued as part of the finder’s fee, are subject to certain conditions, including regulatory acceptance.  Insiders of the Company may participate in this private placement, on the same terms and conditions as arm’s length subscribers.

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