Strathmore Plus Announces Closing of Private Placement of $2,200,000
- Closing of private placement with $2.2M gross proceeds
- None.
Kelowna, British Columbia--(Newsfile Corp. - September 19, 2023) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTC: SUUFF) ("Strathmore Plus" or the "Company") is pleased to announce the closing of its previously announced private placement (the "Brokered Private Placement") for aggregate gross proceeds of
Each Unit consists of one common share and one-half common share purchase warrant. Each whole share purchase warrant ( the "Warrant") is exercisable into one common share at a price of
The Company will pay
Certain insiders of the Company acquired a total of 682,841 Units in the Offering. This participation by insiders in the Private Placement constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Shares subscribed for by the insiders, nor the consideration for the Shares paid by such insiders, would exceed
The net proceeds from the Offering will be used to fund the Company's 2023 exploration program, with
The closing of the Offering is September 18, 2023, and is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.
About Strathmore Plus Uranium Corp.
Strathmore Plus has three uranium projects in Wyoming, including Beaver Rim, Agate, and Night Owl. The Night Owl property is a former producing mine that was in production in the early 1960s. The Agate and Beaver Rim properties contain uranium in Wyoming-type roll front deposits based on historical drilling data. Strathmore has received an exploration permit for both Beaver Rim and Agate projects and is now waiting for the exploration/drilling permit approval for Night Owl.
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 the 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/181052