Over The Counter Stocks

[fast.money]

$STBR LOI News! Strongbow Resources Inc. Enters Into a Letter of Intent for an Investment of up to $75 Million

http://finance.yahoo.com/news/strongbow-resources-inc-enters-letter-121000146.html

VANCOUVER, BC--(Marketwired - Sep 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 opportunities for Strongbow, which we believe may grow our company and shareholder value. We look forward to a great future."

Any investment by the Investor would be subject to suitable due diligence by the Investor and the entry into of definitive agreements. The Company anticipates working with the Investor as it evaluates potential acquisition targets. The Company has not entered into any agreements for the potential acquisitions until its satisfied with the due diligence.