Mr. Dev Randhawa reports
STRATHMORE ANNOUNCES CLOSING PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1,100,000
Strathmore Plus Uranium Corp. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1.1-million through the issuance of 7,333,333 units at a price of 15 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of 25 cents per share for a period of 36 months from the date of issuance.
The net proceeds of the offering will be used for general working capital and exploration of the company's Wyoming uranium properties, including drilling, soil sampling and geophysical surveys.
In connection with the offering, the company paid finders' fees of $21,375 to certain eligible finders in accordance with applicable Canadian Securities Exchange policies.
All securities issued in connection with the offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The offering is subject to any final regulatory approvals as may be required under the policies of the Canadian Securities Exchange.
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.
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