Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced that it has closed the final tranche of its non-brokered private placement, raising gross proceeds of C$1,513,500.
When combined with earlier tranches, the uranium exploration company has raised gross proceeds of C$3,337,400 by issuing 15,598,750 non-flow-through (NFT) units, at a price of C$0.08 per NFT unit, and 20,895,000 flow-through (FT) units at a price of C$0.10 per FT unit.
Standard Uranium said it anticipates the net proceeds raised from the offering will be used for the exploration of its Saskatchewan uranium projects and for working capital purposes.
The company issued 15,135,000 FT units in the final tranche, at a price of C$0.10 per FT unit.
Each FT unit consists of one company common share plus one-half of one common share purchase warrant, with each warrant entitling the holder to purchase one additional Standard Uranium common share at a price of C$0.15 at any time on or before October 28, 2027.
In connection with closing the final tranche, the company paid finders' fees of C$69,360 and issued 693,600 non-transferable share purchase warrants to certain arms-length parties who assisted in introducing subscribers to the offering.
Each finders' warrant is exercisable on the same terms as the warrants.
All securities issued as part of the final tranche are subject to a statutory hold period until March 1, 2026.