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Strathmore Plus Announces Upsize of Private Placement of up to CAD $2,000,000
Kelowna, British Columbia--(Newsfile Corp. - September 5, 2023) - Strathmore Plus Uranium Corpora...
About this update from Strathmore Plus Uranium Corp.
[{"type":"text","content":"Strathmore Plus Announces Upsize of Private Placement of up to CAD $2,000,000Kelowna, British Columbia--(Newsfile Corp. - September 5, 2023) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) (\"Strathmore Plus\" or the \"Company\") is pleased to announce that due to significant demand, the Company has increased the size of its previously announced non-brokered private placement (the \"Offering\") from CAD $1 million to CAD $2 million. Under the revised Offering, the Company will sell up to a total of 3,636,363 units of the Company (each, a \"Unit\") at a price of $0.55 per Unit for total gross proceeds of up to CAD $2,000,000.Each Unit will be comprised of one common share of the Company (each, a \"Unit Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a \"Warrant Share\") at a price of CAD $0.80 for a period of two years from the closing date of the Offering. Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.The net proceeds from the Offering will be used to fund the Company's 2023 exploration program, with 70% going towards drilling and reclaimation, 10% for geophysical logging and the remainder for general working capital purposes. The Company's Projects include Night Owl, Agate and Beaver Rim, all located in the Shirley Basin uranium district of Wyoming.The closing of the Offering is expected to occur on or about September 18, 2023, and is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the \"TSXV\"). The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.About Strathmore Plus Uranium Corp.Strathmore Plus has three uranium projects in Wyoming, including Beaver Rim, Agate, and Night Owl. The Night Owl property is a former producing...