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Standard Uranium Ltd. Announces C$3,000,000 Public Offering
VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) is pleased to announce
About this update from Standard Uranium Ltd
[{"type":"text","content":"VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) 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 (the “Offering”) of units for gross proceeds of C$3,000,000 (the “Offered Securities”). Closing of the Offering is expected to occur on or around June 25, 2020 (the “Closing Date”). The Offered Securities shall consist of any combination of units (“Units”), flow-through units (“FT Units”), and charity flow-through units (“Charity FT Units”). Each Unit shall be offered at a price of C$0.20 per Unit and shall be composed of one common share (“Share”) in the capital of the Company and one half of one Share purchase warrant (“Warrant”). Each FT Unit shall be offered at a price of C$0.22 per FT Unit and shall be composed of one Share issued on a flow-through basis (“FT Share”) and one half of one Warrant. Each Charity FT Unit shall be offered at a price of C$0.29 per Charity FT Unit, and shall be composed of one FT Share issued as part of a charity arrangement (“Charity FT Share”) and one half of one Warrant. Each whole Warrant composing the Units, the FT Units, and the Charity FT Units shall be exercisable at a price of C$0.30 per Warrant for a period of thirty-six (36) months from the Closing Date of the Offering, 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”) 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 Capita...