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Lode Gold Resources Inc. — Capital/Financing Update 2022
Dec 22, 2022
43905_rns_2022-12-22_42e4db68-d281-4e58-9c5c-4c157df435e0.pdf
Capital/Financing Update
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MATERIAL CHANGE REPORT FORM 51-102F3
Item 1. Name and Address
Stratabound Minerals Corp. (the “ Company ”) 100 King Street West Suite 5700 Toronto, ON M5X 1C7
Item 2. Date of Material Change
December 21, 2022
Item 3. News Release
The news release describing the material change was disseminated on December 21, 2022 through Newsfile Corp and filed on SEDAR.
Item 4. Summary of Material Change
The Company announced the closing on December 21, 2022 of the first tranche of $1,555,000 (31,100,000 units) of its non-brokered private placement (“Private Placement”) announced on December 14, 2022 . Securities issued pursuant to this tranche are subject to trading restrictions until April 22, 2023.
Insiders of the Company subscribed for an aggregate of 30,400,000 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
Proceeds will be used for exploration and holding costs related to maintaining its exploration properties and for general corporate working capital purposes.
Item 5. Full Description of Material Change
5.1 Full Description of Material Change
The Company announced the closing on December 21, 2022 of the first tranche of $1,555,000 (31,100,000 units) of its non-brokered private placement (“Private Placement”) announced on December 14, 2022. Each unit consists of one common share and one common share purchase warrant issued at a price of CDN $0.05 per unit. Each common share purchase warrant will entitle the holder thereof to purchase an additional one common share of the Company at $0.07 (Canadian) per share for a period of 24 months from the closing date.
Securities issued pursuant to this tranche are subject to trading restrictions until April 22, 2023.
Insiders of the Company subscribed for an aggregate of 30,400,000 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
Proceeds will be used for exploration and holding costs related to maintaining its exploration properties and for general corporate working capital purposes.
5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7. Omitted Information
No information has been omitted in respect of this material change.
Item 8. Executive Officer
The following executive officer of the Company is knowledgeable about the material change disclosed in this report and may be contacted as follows:
R. Kim Tyler, President Telephone: 416 915-4157
Item 9. Date of Report
December 22, 2022.
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