$STBR ~ Market Cap = 19.78M ~ VANCOUVER, BC / ACCESSWIRE / September 2, 2014 / Strongbow Resources Inc. (OTCQB: STBR) (the "Company") is pleased to announce that it has entered into a non-binding letter of intent with the Canadian Chamber of Commerce in South China (the "Investor") whereby the parties set out the basic terms by which the Investor would invest up to $75 million into three projects of the Company. The $75 million would be disbursed in three phases for Projects A, B, & C.
Phase 1 would be an investment of $10 million for Project A, which is anticipated to consist of acquiring production, production enhancement, re-entry and infill drilling. Phase 2 would be an investment of $30 million for Project B, which is anticipated to be the acquisition of a larger scale project than Project A. The final phase 3 would be an investment of $35 million to develop the 8 sections (5120 acres) of the Company's current Compeer asset in Alberta. The Company would perform an evaluation after each phase to determine a fair market price for the investment in order to reduce dilution to the current shareholders of the Company.
President and CEO Michael Caetano stated, "It has been a pleasure building a relationship with the Canadian Chamber of Commerce in South China. We are excited to have their financial interest in developing strong
