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Enter Symbol
or Name
USA
CA



Skyharbour Resources Ltd (3)
Symbol SYH
Shares Issued 92,649,452
Close 2020-12-17 C$ 0.23
Market Cap C$ 21,309,374
Recent Sedar Documents

Skyharbour closes private placement for $1.46-million

2020-12-17 17:33 ET - News Release

Mr. Jordan Trimble reports

SKYHARBOUR CLOSES $1.46 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

Skyharbour Resources Ltd. has closed a non-brokered private placement financing for total gross proceeds of $1,461,640.32. The majority of the private placement was subscribed for by a strategic institutional investor.

The company has allotted and issued 6,090,168 units at a price of 24 cents per unit. Each unit is composed of one flow-through common share and one-half of one warrant. Each warrant will entitle the holder to purchase one non-flow-through common share for a period of three years at a price of 35 cents per share.

In addition, the company has paid finders' fees of $70,000 and issued 291,667 finders' warrants to Red Cloud Securities Inc., an arm's-length party. Each finder's warrant is exercisable into one common share for a period of up to three years at a price of 24 cents.

The company intends to use the proceeds from this private placement for exploration and coming drilling programs. The private placement is subject to final TSX Venture Exchange approval, and all securities issued are subject to a four-month-and-one-day hold period.

About Skyharbour Resources Ltd.

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca basin, and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the company, a 100-per-cent interest in the Moore uranium project, which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick zone with drill results returning up to 6.0 per cent triuranium octoxide over 5.9 metres, including 20.8 per cent U3O8 over 1.5 metres at a vertical depth of 265 metres.

Skyharbour has option agreements with Orano Canada Inc. and Azincourt Energy, whereby Orano and Azincourt can earn in up to 70 per cent of the Preston project through a combined $9.8-million in total exploration expenditures, as well as $1.7-million in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit, as well as NexGen Energy's Arrow deposit.

The company owns a 100-per-cent interest in the South Falcon uranium project on the eastern perimeter of the basin, which contains a National Instrument 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03 per cent and 5.3 million pounds of thorium dioxide at 0.023 per cent. Skyharbour has signed a definitive agreement with Australian company Pitchblende Energy, which is being acquired by Australian Securities Exchange-listed Valor Resources, on the North Falcon uranium project whereby Pitchblende can earn in 80 per cent of the project through $3.5-million in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships and the advancement of exploration projects in geopolitically favourable jurisdictions.

We seek Safe Harbor.

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