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 would be stepping into Stratabound to rebuild the company. This new management is now 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 closed on May 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. The new management team includes Margaret Peggy Kent as the Chairman, Terrence Byberg as the CEO, Michael Page as VP Exploration, and Richard Meschke as the CFO. The new board is comprised of Kent, Byberg, Michael Page, R. Michael Robb and Dr. Peter Calder. Management is supported by an extensive advisory group. (please see news release dated May 25, 2015).
The Company is in the process of completing an organized search for a “Keystone” project to acquire. The management team is 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.