Standard Uranium Ltd ( TSX-V:STND , OTCQB:STTDF , FRA:9SU0 ) has increased its LIFE offering to up to C$2 million, citing strong demand.
The company said it will offer up to 25 million flow-through units at C$0.08 each to purchasers in Canada, excluding Québec.
The placement comes in addition to an ongoing strategic investment in the company by a leading conglomerate from a Southeast Asian nation.
Standard Uranium expects to use net proceeds to explore its Saskatchewan uranium projects.
The explorer holds interests in more than 94,476 hectares in the Athabasca Basin, which it describes as the world's richest uranium district. Its Davidson River Project in the southwest covers 30,737 hectares along trend from recent high-grade discoveries and remains broadly under-tested by drilling, the company said. Recent intersections of wide, altered shear zones have strengthened its confidence in the exploration model.
It also holds more than 42,384 hectares in the eastern basin and the 19,603-hectare Sun Dog project in the northwest, both of which it considers prospective for basement and unconformity hosted uranium deposits.
