Standard Uranium Announces Closing of LIFE Offering

Executive Summary

• Standard Uranium closed its previously announced flow‑through unit offering, issuing 25 million FT Units at $0.10 per unit, generating net proceeds to fund Saskatchewan uranium exploration.
• The units include common shares and half‑share purchase warrants exercisable at $0.15 until October 15 2027; finders’ fees of $150,000 were paid and 1.5 million non‑transferable Finders’ Warrants were issued.
• A secondary offering of up to an additional 16.761 million FT Units (up to $1.676 M gross proceeds) is being pursued under the accredited investor exemption, subject to TSX‑V approval and a statutory hold period.

Key Details

• Offering Size: 25,000,000 FT Units closed; each unit = 1 common share (flow‑through) + ½ warrant.
• Price per Unit: $0.10 USD.
• Warrant Terms: Each full warrant allows purchase of one common share at $0.15, exercisable any time before October 15 2027.
• Net Proceeds Use: To fund exploration activities on the Company’s Saskatchewan uranium projects (Davidson River, Eastern Athabasca, Sun Dog).
• Finders’ Compensation: $150,000 paid in cash; issuance of 1,500,000 non‑transferable Finders’ Warrants on the same terms as the primary warrants.
• Secondary Offering: Up to 16,761,000 additional FT Units at $0.10 per unit, targeting Canadian accredited investors for gross proceeds up to $1,676,100.
• Regulatory Conditions: Secondary units will be subject to a four‑month‑and‑one‑day statutory hold period; completion pending TSX Venture Exchange approval.
• Exemption Used: Listed Issuer Financing Exemption (NI 45‑106 Part 5A) for the closed offering; Accredited Investor exemption for the secondary tranche.

Notable Quotes

(No direct quotes were provided in the release.)