- Standard Uranium (STND) has announced a brokered private placement for up to C$4 million
- The company will use the proceeds for the exploration and development of its Davidson River Project and for working capital purposes
- The offering is scheduled to close on or around August 5, 2021
- Standard Uranium is focused on prospective exploration-stage uranium projects in Saskatchewan’s Athabasca Basin
- Standard Uranium (STND) is trading flat at $0.26 per share
Standard Uranium (STND) has announced a brokered private placement for up to C$4 million.
The offering is comprised of:
- A minimum of 4,166,667 units priced at $0.24 per unit for minimum gross proceeds of $1 million
- Flow-through units priced at $0.265 per unit
- Flow-through units sold to charitable buyers at $0.32 per unit
Each unit consists of one Standard Uranium common share and one-half of one common share purchase warrant.
Each FT unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act of Canada and one-half of one warrant.
Each charity FT unit consists of one FT share and one-half of one warrant.
Each warrant entitles the holder to purchase one common share for $0.36 up to 36 months after the closing.
Standard Uranium will use the proceeds for the exploration and development of its Davidson River Project and for working capital purposes.
The company will use proceeds from FT shares to incur Canadian exploration expenses and flow-through mining expenditures as defined in the Income Tax Act. Such proceeds will be renounced to subscribers with an effective date not later than December 31, 2021.
The offering is scheduled to close on or around August 5, 2021.
Red Cloud Securities is acting as lead agent on behalf of a syndicate of agents.
Standard Uranium is focused on prospective exploration-stage uranium projects in Saskatchewan’s Athabasca Basin.
Standard Uranium (STND) is trading flat at $0.26 per share as of 11:51 am ET.