On July 14, 2022, Standard Uranium Ltd. completed the second and final tranche of a fully marketed private placement. Under the second tranche, Standard Uranium sold 3,177,116 flow-through units of the company at a price of $0.13 per flow-through unit for gross proceeds of approximately $413,000. Combined with the first tranche of the offering, the company sold 7,306,900 units of the company and 21,242,962 flow-through units for aggregate gross proceeds of approximately $3.6 million.
The offering was led by Red Cloud Securities Inc. on behalf of a syndicate of agents that included Canaccord Genuity Corp.
The net proceeds raised will be used for the exploration of Standard Uranium’s Davidson River Project.
Cassels acted for Standard Uranium.