Standard Uranium closes $964,700 private placement for uranium exploration

Standard Uranium Ltd. (TSXV: STND) (OTCQB: STTDF) has closed the second and final tranche of its non-brokered private placement, bringing total gross proceeds from the offering to $964,700, according to a press release.

The company issued a total of 9,647,000 units at $0.10 per unit across both tranches. The final tranche consisted of 750,000 units at $0.10 per unit, raising $75,000. Each unit comprises one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at $0.15 for 36 months.

The warrants include an accelerated expiry provision. If the closing price of the company's common shares on the TSX Venture Exchange equals or exceeds $0.30 for 10 consecutive trading days, the company may, at its election, issue notice causing the warrants to expire five days after a press release announcing the accelerated expiry.

In connection with the final tranche, the company paid $4,500 in finders' fees and issued 45,000 non-transferable finders' warrants on the same terms as the offering warrants. All securities issued under the final tranche are subject to a statutory hold period until December 5, 2026.

Net proceeds from the offering will be directed toward exploration at the company's Davidson River project in the Athabasca Basin in Saskatchewan, Canada, and for general working capital purposes.

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