Ms. Lisa Stewart reports
STALLION DISCOVERIES ANNOUNCES $4 MILLION NON-BROKERED PRIVATE PLACEMENT FINANCING
Stallion Discoveries Corp. is proceeding with a non-brokered private placement for gross proceeds of up to $4-million, consisting of charity flow-through units of the company at a price of 41 cents per charity FT unit and flow-through common shares of the company at a price of 33 cents per FT share. Red Cloud Securities Inc. is acting as a finder under the offering.
Each charity FT unit will consist of one common share of the company to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 45 cents for a period of 24 months.
The gross proceeds from the sale of charity FT shares and FT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the company's uranium projects in the Athabasca basin, Saskatchewan, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers of the charity FT shares and FT shares effective Dec. 31, 2023.
The offering is subject to TSX Venture Exchange approval. All securities to be distributed under the offering will be subject to a hold period of four months and one day following the closing date of the offering.
The company may pay a cash commission equal to 8 per cent of the gross proceeds of the offering.
About Stallion Discoveries
Corp.
Stallion Discoveries is working to fuel the future with uranium through the exploration of over 3,000 square kilometres in the Athabasca basin, home to the largest high-grade uranium deposits in the world. The company holds the largest contiguous project in the western Athabasca basin adjacent to multiple high-grade discovery zones.
We seek Safe Harbor.
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