Standard Uranium Ltd ( TSX-V:STND , OTCQB:STTDF , FRA:9SU0 ) said on Monday it will offer up to 12.5 million flow-through units at C$0.08 each for gross proceeds of up to C$1 million, with proceeds earmarked for exploration at its Saskatchewan uranium projects.
Each unit consists of one common share, issued as a flow-through share under Canada's Income Tax Act, and one-half of one common share purchase warrant. Each whole warrant entitles the holder to buy one common share at C$0.12 for 24 months.
The offering is in addition to the company's ongoing strategic investment from a leading conglomerate from a Southeast Asian nation, the Vancouver-based company said in a statement.
Standard Uranium holds interests in more than 94,000 hectares in Saskatchewan's Athabasca Basin, including the Davidson River and Sun Dog projects and several eastern Athabasca properties.
