VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“standard uranium“or the”Company”) (TSX-V: STND) (OTCQB: STTDF) has determined, given the current strength of the global uranium industry and the growing importance of uranium as a source of green energy, that ‘it will make a non-brokered private placement of any combination of units of the Company (each, a “Unity”) at a price of C$0.11 per Unit, and Flow-Through Units of the Partnership (each, a “FT unit», and collectively with the Units, the «Titles offered) at a price of C$0.13 per FT Unit to generate gross proceeds of up to C$3,500,000 (the “Offer”).
Each Unit will consist of one common share of the Company (each a “Unit share“) and one-half common share purchase warrant (each whole warrant, one “To guarantee”). 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) (each, a “FT Sharing”) and half a term. Each whole warrant will entitle its holder to purchase one common share of the Company (each, a “Warrant Action”) at a price of C$0.17 at any time on or before such date, being 24 months after the closing date of the offering.
The net proceeds from the Offering will be used for exploration of the Company’s projects and for working capital purposes. Proceeds from the sale of FT shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow-through mining expenses” as defined in subsection 127(9) of the Income Tax Act. (“Eligible expenses”). Such proceeds will be waived to subscribers with an effective date no later than December 31, 2022, for an aggregate amount of at least the aggregate amount of gross proceeds from the issue of FT Shares.
Red Cloud Securities Inc. has agreed to act as intermediary for the Company in connection with the Offer. The Company will pay finder’s fees to eligible parties who have assisted in introducing subscribers to the Offering. All securities issued under the Offering will have a hold period of four months and one day from the closing date. The closing of the placement remains subject to the approval of the TSX Venture Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities offered, and there will be no sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of any such jurisdiction. The Offered Securities offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or profit of an American Person.
About Standard Uranium (TSX-V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its inception, Standard Uranium has focused on identifying and developing potential exploration-stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.
Standard Uranium’s Davidson River project in the southwestern part of the Athabasca Basin in Saskatchewan consists of 21 mining claims over 25,886 hectares. The Davidson River holds great promise for subsurface-hosted uranium deposits, but remains relatively untested by drilling despite its location along the trend of recent high-grade uranium discoveries. A copy of the NI 43-101 Technical Report titled “Updated Technical Report on the Davidson River Property, Northwest Saskatchewan, Canada” with an effective date of March 16, 2020, which summarizes exploration on Davidson River, is available for review under the Uranium Standard. SEDAR profile (www.sedar.com).
For more information, contact:
Jon Bey, CEO and President
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
Tel: 1 (306) 850-6699
Email: [email protected]
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “forecast”, “budget”, “timing”, “Potential”, “Possible” or variations thereof or indicating that certain actions, events, conditions or results “may”, ” could”, “would”, “should”, “could” or “will” be taken, occur or be achieved, or the negative form of any of these similar terms and expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of future work programs; geological interpretations; the timing of the Company’s exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Some important factors that could cause actual results, performance or achievements to differ materially from those set forth in the forward-looking statements include, among others: general economic conditions in Canada and around the world; industry conditions; government regulation of the mining industry, including environmental regulation; geological, engineering and drilling issues; unforeseen operating events; competition and/or inability to retain rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; commodity market price volatility; liabilities inherent in the mining industry; the development of the global COVID-19 pandemic; changes in tax laws and incentive programs related to the mining industry. This list is not exhaustive of factors that could affect the Company’s forward-looking statements. There may be other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking statements contained herein. See the section titled “Risks and Uncertainties” in the Company’s MD&A for the fiscal year ended April 30, 2022, dated August 26, 2022, for additional risk factors that could cause events or actual results differ from those expressed or implied by the forward-looking statements contained herein.
Forward-looking statements are necessarily based on a number of factors and assumptions which, if incorrect, could cause actual events or results to differ from those expressed or implied by the forward-looking statements contained herein. . Forward-looking statements are based on a number of estimates and assumptions which, although considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that could result in the actual financial results, performance or performance of the Company. materially different from those expressed or implied herein. Some of the important factors or assumptions used in making forward-looking statements include, but are not limited to: the future price of uranium; expected costs and the Company’s ability to raise additional capital if and when needed; the volatility of the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to conduct exploration and development activities; the success of exploration, development and mining activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mining properties; costs of operating and exploration expenses; the Company’s ability to successfully identify, complete and integrate acquisitions; the Company’s ability to operate safely, efficiently and effectively; health, safety and environmental risks; the presence of laws and regulations that may impose restrictions on mining; employee relations; relations with local communities and indigenous peoples and their claims; the availability of rising costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from governmental authorities); uncertainties relating to title to mineral properties; assessments by tax authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. All forward-looking statements and assumptions made in connection therewith are made as of the date of this press release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.