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Standard Uranium Announces C$3,000,000 Public Offering
VANCOUVER, British Columbia, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (Frankfurt: FWB:9SU) i
About this update from Standard Uranium Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (Frankfurt: FWB:9SU) is pleased to announce that it has entered into a letter agreement (the “Agreement”) with Red Cloud Securities Inc. (“Red Cloud”) as lead agent on behalf of a syndicate of agents (collectively, the “Agents”) and has filed and obtained a receipt for a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities regulators in each of the Provinces of Canada other than the Province of Québec, pursuant to which the Company proposes to complete a public offering of up to 7,500,000 units of the Company (the “Units”) at a price of C$0.20 per Unit and up to 6,818,181 flow-through units of the Company (the “FT Units”, and collectively with the Units, the “Offered Securities”) at a price of C$0.22 per FT Unit for gross proceeds of up to C$3,000,000 (the “Marketed Offering”). Closing of the Marketed Offering is expected to occur on or around October 29, 2020 (the “Closing Date”). Each Unit shall be comprised of one common share (each a “Share”) in the capital of the Company and one-half-of-one Share purchase warrant (each a “Warrant”). Each FT Unit shall be comprised of one Share issued on a flow-through basis (each a “FT Share”) and one-half-of-one Warrant. Each whole Warrant shall be exercisable into one Share at a price of C$0.30 for a period of thirty-six (36) months from the Closing Date, subject to an accelerated expiry (the “Acceleration”) in the event the Shares close at or above C$0.60 on the TSX Venture Exchange (the “Exchange”) for ten (10) consecutive trading days. Pursuant to the Agreement, the Company will grant to the Agents an option to cover over-allotments and for market stabilization purposes (the “Over-Allotment Option”, and collectively with the Marketed Offering, the “Offering”) to sell up to an additional C$450,000 of Offered Securities on the same terms and conditions as set out herein, exercisable in whole or in part, at any time and from time to time, for a period of thirty (30) days from and including the Closing Date. Eventus Capital Corp. is acting as special advisor to the Company in connection with the Marketed Offering. The net proceeds raised from the sale of Units will be for the exploration and development of the Company’s D...