A company now focused on finding an advanced "Keystone" project to develop or operate
Stratabound has had a 29-year history primarily focused on and exploring for base and precious metal deposits. Recently, the downturn in the mining industry and in exploration resource financing created challenges for Stratabound. Stratabound had little alternative but to either close its doors or search for a merger partner that had the capability of finding and operating projects that could produce cash flow.
Stratabound on May 25, 2015 announced a proposed transaction with Silver Stream Mining Corp. whereby the Silver Stream management will be stepping into Stratabound to rebuild the company. This new management will be focused on finding and developing assets that can be cash flow positive in a short time period.
This transaction meets Stratabound’s objectives and gives the Silver Stream shareholders shares in a TSX Venture listed company. The transaction is expected to close early in 2016.
The New Stratabound will be run by a seasoned group of mining executives and mine operators with extensive experience operating mining projects around the world. When completed, the new management team will include Margaret Peggy Kent as the Chairman, Terrance Byberg as the CEO, and Richard Meschke as the CFO. The new board will be comprised of Kent, Byberg, Michael Page, R. Michael Robb and Dr. Peter Calder. Management will be supported by an extensive advisory group. (please see news release dated May 25, 2015). Until the transaction closes with Silver Stream, Michael Page has stepped in as the Interim CEO of Stratabound.
The Company will then undertake an organized search for a “Keystone” project to acquire. The management team will be speaking to investment bankers, and mining professionals around the world to develop a short list of projects. It is expected that a project will be found in 2016.
A complete review of Stratabound’s existing projects and Silver Stream’s existing projects is currently underway to determine which projects are of merit and will be kept, sold, or joint ventured. Although the transaction is not yet closed, for information purposes Silver Stream’s projects have been added to this web site.
We have the support of both Stratabound and Silver Stream’s significant shareholders.