Strathmore Announces Intention for CSE Listing and Issuance of Shares for Debt

Rhea-AI Summary

Strathmore Plus Uranium (SUUFF) announces its intention to list its common shares on the Canadian Securities Exchange (CSE) and to delist from the TSX Venture Exchange (TSXV). Additionally, the company has closed debt settlement agreements, exchanging $95,000 in debt for 190,000 common shares, with 105,000 shares issued to insiders.

Positive

• Strathmore Plus Uranium plans to list its common shares on the CSE, expecting reduced filing fees and compliance costs.
• Debt settlement agreements have been closed by the company, exchanging $95,000 in debt for 190,000 common shares.
• 105,000 shares issued to insiders as part of the debt settlement agreements, considered a related party transaction.

Negative

• None.

Kelowna, British Columbia--(Newsfile Corp. - April 12, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) (or "the Company") announces that the Company intends to apply to list its common shares (the "Common Shares") on the Canadian Securities Exchange ("CSE") and to apply to the TSX Venture Exchange (the "TSXV") to delist its Common Shares.

The Company believes listing the Common Shares on the CSE will deliver additional value to the shareholders as a result of the Company being subject to reduced filing fees, lower legal and compliance costs. Completion of the listing of the Common Shares on the CSE is subject to the Company's application to delist being accepted by the TSXV, and acceptance of the Company's application to list by the CSE.

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The Company further announces that pursuant to its previous release of (February 28, 2024) it has closed debt settlement agreements to settle an aggregate amount of $95,000 in outstanding debt in exchange for the issuance of 190,000 common shares. The Common Shares are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

A total of 105,000 of the shares issued pursuant to the Debt Settlement were issued to insiders of the corporation ("Insider Participation") and as such it is a related party transaction within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of the Insider Participation.

About Strathmore Plus Uranium Corp.
Strathmore has three fully permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205387

FAQ

What is Strathmore Plus Uranium 's intention regarding the CSE listing and TSXV delisting?

Strathmore Plus Uranium intends to list its common shares on the CSE and delist from the TSXV.

How much debt was settled by Strathmore Plus Uranium through the issuance of common shares?

Strathmore Plus Uranium settled $95,000 in debt through the issuance of 190,000 common shares.

Who received 105,000 of the common shares issued by Strathmore Plus Uranium ?

105,000 of the common shares issued by Strathmore Plus Uranium were received by insiders of the