Strongbow Exploration Inc. (SBW: TSXV) ("Strongbow" or "the Company") has closed the non-brokered private placement financing announced on February 10, 2012, and revised on February 29, 2012. Strongbow has issued 8.9 million Units at a price of 13 cents per Unit for gross proceeds of $1,157,000. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant is transferrable and entitles the holder to purchase one additional common share of the Company until September 9, 2013 at a price of $0.20 per common share. The common shares issued as part of this private placement and any common shares issued upon the exercise of the warrants are subject to a hold period which expires July 10, 2012. As part of the private placement, Strongbow paid finders fees of $1,560 cash and issued 181,200 Finder's Units. Each Finder's Unit has the same terms as the Units issued as part of this private placement. Insiders of the Company participated in this private placement.
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.
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
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