Mr. Drew Zimmerman reports
STALLION URANIUM UPSIZES NON-BROKERED PRIVATE PLACEMENT FINANCING TO $2.2 MILLION
Stallion Uranium Corp., due to strong investor demand, has increased the maximum size of its previously announced non-brokered private placement from $1.5-million to $2.2-million. The revised offering consists of units of the company at a price of 8.5 cents per unit and flow-through units of the company at a price of nine cents per FT unit.
Each unit will consist of one common share of the company and one-half of one transferable warrant. Each warrant will entitle the holder to purchase one common share for 24 months at a price of 12 cents per share.
Each 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 warrant.
The gross proceeds from the 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, 2025. All qualifying expenditures will be renounced in favour of the subscribers of the FT units effective Dec. 31, 2024. The gross proceeds from the sale of units will be used by the company toward non-qualifying exploration expenditures and general working capital.
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 finders' fees consisting of 7 per cent in cash and 7 per cent in warrants in connection with the offering. The warrants shall bear the same terms as the warrants issued under the FT unit and units pursuant to the offering.
About Stallion Uranium Corp.
Stallion Uranium 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, with joint venture partner Atha Energy, holds the largest contiguous project in the southwestern Athabasca basin adjacent to multiple high-grade discovery zones.
Stallion Uranium's leadership and advisory teams comprise uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion Uranium offers optionality with the Horse Heaven gold project in Idaho, which neighbours a world-class gold deposit, offering exposure to upside potential from district advancement with limited capital expenditures.
We seek Safe Harbor.
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