Standard Uranium extends financing
2025-01-09 18:56 ET - News Release
Mr. Jon Bey reports
STANDARD URANIUM TO COMPLETE FINAL TRANCHE OF PRIVATE PLACEMENT
Standard Uranium Ltd. has received an extension from the TSX Venture Exchange to complete the final tranche of its non-brokered private placement.
The offering consists of any combination of units of the company at a price of 8.5 cents per NFT (non-flow-through) unit and FT (flow-through) units of the company at a price of 10 cents per FT unit. Each NFT unit consists of one common share of the company and one-half of one transferable common share purchase warrant. Each FT unit consists of one common share of the company to be issued as a flow-through share, within the meaning of the Income Tax Act (Canada), and one-half-of-one warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents at any time for a period of 24 months.
The exchange has extended the deadline for completion of the final tranche of the offering through to Feb. 6, 2025. The company will issue a news release following completion of the final tranche. For further information regarding the offering, readers are encouraged to review the news release issued by the company on Nov. 20, 2024.
About Standard Uranium Ltd.
Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world's richest uranium district. The company holds interest in over 233,455 acres (94,476 hectares) in the world-class Athabasca basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition and exploration of Athabasca-style uranium targets with a view to discovery and future development.
Standard Uranium has successfully executed three joint venture earn-in partnerships on its Sun Dog, Canary and Atlantic projects, totalling over $23.8-million in work commitments over the next three years from 2024 to 2027, all of which will be managed by Standard's experienced exploration team.
Standard Uranium's Davidson River project, in the southwestern part of the Athabasca basin, Saskatchewan, comprises 10 mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly undertested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.
Standard Uranium's eastern Athabasca projects comprise over 42,384 hectares of prospective land holdings. The eastern basin projects are highly prospective for unconformity related and/or basement-hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies and location along trend from several high-grade uranium discoveries.
Standard Uranium's Sun Dog project, in the northwestern part of the Athabasca basin, Saskatchewan, comprises nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement- and unconformity-hosted uranium deposits yet remains largely untested by drilling despite its location proximal to uranium discoveries in the area.
QP (qualified person) statement
The scientific and technical information contained in this news release has been reviewed, verified and approved by Sean Hillacre, PGeo, president and vice-president of exploration of the company, and a qualified person as defined in National Instrument 43-101.