Stuhini announces $500,000 private placement for exploration funding

Stuhini Exploration Ltd. (TSXV: STU) announced a non-brokered private placement offering up to 4,166,667 units at $0.12 per unit to raise gross proceeds of up to $500,000.

Each unit consists of one common share and one-half of a common share purchase warrant. The warrants allow holders to purchase additional common shares at $0.18 per share for two years following issuance.

The Vancouver-based mineral exploration company plans to use net proceeds to support exploration and advancement of its Ruby Creek Project, including technical evaluation and groundwork for future drill targeting. Additional funds will support corporate initiatives and general working capital.

Company directors, officers or insiders may participate in the private placement, constituting a related party transaction under TSX Venture Exchange policies. Stuhini intends to rely on exemptions from formal valuation and minority shareholder approval requirements since the transaction value involving related parties is not expected to exceed 25% of the company's market capitalization.

The company may pay finders' fees up to 6% of gross proceeds from units placed by finders, in accordance with TSX Venture Exchange policies. Closing is expected to occur as soon as practicable and may happen in multiple tranches.

The private placement requires regulatory approvals, including TSX Venture Exchange approval. All securities issued will be subject to a four-month and one-day statutory hold period under applicable securities laws.

Stuhini's exploration portfolio includes the Ruby Creek Property located 16 kilometers east of Atlin, British Columbia, the South Thompson Nickel Project in Manitoba, and the Big Ledge Property in British Columbia.

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