Standard Uranium Ltd ( TSX-V:STND , OTCQB:STTDF , FRA:9SU0 ) said its C$3 million private placement with a Southeast Asian strategic investor is progressing as planned, and the TSX Venture Exchange has granted more time to complete it.
The exchange extended the deadline to file final closing materials to November 16 from October 18.
The investor, a leading conglomerate from a Southeast Asian nation, is in the final stages of obtaining the required governmental and banking approvals in its local jurisdiction, the company said.
The investor is acquiring 39,215,686 units at C$0.0765 per unit under a non-brokered offering.
Standard Uranium has interests in more than 94,476 hectares in Saskatchewan's Athabasca Basin. It has signed three joint venture earn-in partnerships, on its Sun Dog, Canary and Atlantic projects, totaling more than C$23.8 million in work commitments from 2024 to 2027.
