Strongbow Resources Inc. (OTCMKTS:STBR) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
On February 16, 2017, we sold an aggregate of 800,000 units (each, a “Unit”) at a price of US$0.25 per Unit for gross proceeds of US$200,000. Each Unit is comprised of one share of common stock of our company (each, a “Share”) and one non-transferable share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a “Warrant Share”) at a price of US$0.60 per Warrant Share until February 16, 2019. We issued the Shares to one U.S. person in reliance upon Rule 506 of Regulation D of the Securities Act of 1933, as amended.
About Strongbow Resources Inc. (OTCMKTS:STBR)
Strongbow Resources Inc. is focused on the acquisition, exploration and development of oil and gas properties located in the United States and Canada. The Company’s net probable reserves are approximately 89,600 barrels of oil. The Company has a well on approximately 160 developed acres. The Company has approximately 4,960 gross acres and 4,960 net undeveloped acres. The Company seeks to focus on the exploration and drilling of the Farmout Lands, identify and complete additional asset acquisition(s), and pursue joint venture agreements with third parties to explore for oil and gas in Canada and the United States. As of February 29, 2016, the Company had no proved undeveloped reserves. The Company has generated no revenue from pre-production sales of oil and commercial production. Strongbow Resources Inc. (OTCMKTS:STBR) Recent Trading Information
Strongbow Resources Inc. (OTCMKTS:STBR) closed its last trading session down -0.080 at 0.610 with 67,567 shares trading hands.