Strongbow Announces Private Placement Financing


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES


Strongbow Exploration Inc. (SBW: TSXV) announces that it intends to complete a non-brokered private placement of up to 8 million units (the “Units”) of the Company at a price of CDN$0.13 per Unit for gross proceeds of up to CDN$1,040,000. 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.

The Units and any common shares issued upon the exercise of warrants pursuant to this private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. Closing of this private placement is expected to occur on or around March 15, 2012, subject to the receipt of all required regulatory approvals.

STRONGBOW EXPLORATION INC.
/s/”Kenneth A. Armstrong”
Kenneth A. Armstrong
President and CEO

For further information, please contact:
Ken Armstrong
President and CEO
Tel: 604 668 8355
Email: info@strongbowexploration.com
Website: www.strongbowexploration.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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