Strongbow Closes Acquisition of the Mactung and Cantung Royalties
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 16, 2016) - Strongbow Exploration Inc. (TSX VENTURE:SBW) ("Strongbow" or the "Company") is pleased to announce that it has closed the previously announced agreement with Teck Resources Ltd. ("Teck") whereby Strongbow would purchase Teck's royalty interest on the Mactung and Cantung projects located in the Yukon and Northwest Territories (see news release dated March 7, 2016).
Strongbow has drawn the full amount of previously announced line of credit from Osisko Gold Royalties Ltd. and paid $1,500,000 to Teck.
Details regarding the projects and the line of credit can be viewed in the March 7 news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard D. Williams, P.Geo
Neither the 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.
This news release contains "forward-looking statements" including but not limited to statements with respect to Strongbow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although Strongbow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Strongbow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.