Proceeds will fund exploration at the Davidson River project and general working capital after issuing 9 million units.
Standard Uranium Ltd (TSX-V:STND) closed a listed issuer financing exemption offering, raising approximately $900,000 in gross proceeds. The company issued 9 million units at $0.10 per unit, each comprising one common share and half a warrant.
Each warrant allows the purchase of an additional share at $0.15 for 36 months, with an accelerated expiry if shares trade at or above $0.30 for 10 consecutive days. The company paid a $54,000 finder’s fee and issued 540,000 non-transferable finder’s warrants.
Funds will primarily support exploration at the Davidson River uranium project and general corporate purposes.