Business
Stallion Discoveries Announces Revised Non-Brokered Private Placement Financing for up to $3,000,000
VANCOUVER, British Columbia, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Stallion Discoveries Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
About this update from Stallion Uranium Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Stallion Discoveries Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce that due to strong investor demand, the Company has increased the maximum size of its previously announced non-brokered private placement (the “Offering”) from $2,000,000 to $3,000,000. The revised Offering will consist of Flow-Through Units of the Company (each, a “FT Unit”) at a price of $0.24 per FT Unit and Non-Flow Through Units of the Company (each, a “Unit”) at a price of $0.20 per Unit (the “Offering”). Red Cloud Securities Inc. is acting as a finder under the Offering. Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one Warrant. Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of $0.30 for a period of 24 months. The gross proceeds from the FT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to the Company’s uranium projects in the Athabasca Basin, Saskatchewan, on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2023. The gross proceeds from the sale of Units will be used by the Company towards non-qualifying exploration expenditures and general working capital. The Offering is subject to TSX Venture Exchange approval. All securities to be distributed under the Offering will be subject to a hold period of four months and one day following the closing date of the Offering. The Company may pay finders fees consisting of 7% cash and 7% warrants in connection with the Offering. The warrants shall bear the same terms as the Warrants issued under the FT Unit and Units pursuant to the Offering. This press release does not constitute an offer to sell or a solicitation of...