Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced it will raise up to C$2 million to fund exploration at its Saskatchewan properties.
The offering includes various unit types, such as units, flow through units, and charity flow through units, with different prices. Units are priced at C$0.05, FT Units at C$0.06, and Charity FT Units at C$0.075.
Each unit comprises one common share and half a common share purchase warrant.
Net proceeds from the offering will support exploration activities in the company's Saskatchewan projects and cover working capital needs.
The offering is expected to close around December 11.
Standard Uranium is an exploration company operating in the Athabasca Basin, Canada's uranium-rich district, with over 187,542 acres of interest. The company is strategically focused on identifying, acquiring, and exploring uranium targets in the Athabasca Basin to make discoveries and facilitate future development.
The Atlantic, Canary, Ascent, Corvo, and Rocas Projects in the eastern Athabasca Basin cover 25,242 hectares and show promise for uranium deposits based on historical occurrences, geophysical anomalies, and proximity to high-grade discoveries.
The Sun Dog project in the northwest Athabasca Basin, spanning 19,603 hectares, is rich in potential for basement and unconformity hosted uranium deposits, despite limited previous drilling.
The Davidson River project, located in the southwest Athabasca Basin, comprises 10 mineral claims over 30,737 hectares and holds promise for basement-hosted uranium deposits.