Business
Standard Uranium Ltd. Announces Upsize to Previously Announced Public Offering to C$3,500,000
VANCOUVER, British Columbia, June 08, 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 08, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) is pleased to announce that it has entered into an amended letter agreement (the “Amended Agreement”) with Red Cloud Securities Inc. (“Red Cloud”) to act as lead agent on behalf of a syndicate of agents including Eight Capital (collectively, the “Agents”) in connection with the upsize of its previously announced public offering of units (the “Offered Securities”) for gross proceeds of C$3,000,000 (the “Initial Offering”). The Company intends to upsize the Initial Offering to C$3,500,000 to accommodate investor demand (the “Offering”). Closing of the Offering remains on course and 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 Amended 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$500,000 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. Even...