Skyharbour Resources closes $2.1-million financing

Executive Summary

• Skyharbour Resources Ltd. has closed a non-brokered private placement of flow-through shares, raising gross proceeds of $2,103,898.94.
• The funds are designated for the company's 2026 exploration campaign, specifically targeting exploration and drilling at its co-flagship Russell and Moore Lake uranium projects.
• The transaction involved the issuance of 5,069,636 flow-through shares at 41.5 cents per share, with significant participation from strategic institutional investors and one insider director.

Key Details

• Gross Proceeds: $2,103,898.94
• Instrument: Non-brokered private placement of flow-through (FT) shares.
• Share Price: 41.5 cents per FT share.
• Shares Issued: 5,069,636 flow-through shares.
• Use of Proceeds: Upcoming 2026 exploration campaign, including exploration and drilling at the Russell (RL) and Moore Lake uranium projects.
• Investor Composition: Mostly subscribed by strategic institutional investors; one director subscribed for 250,000 shares for gross proceeds of $103,750.
• Tax Credits: The FT shares qualify for the federal 30-per-cent critical mineral exploration tax credit under Subsection 127(9) of the Income Tax Act (Canada).
• Finder’s Fees: Cash finders' fees of $120,008.94 paid to an arm's-length party.
• Regulatory Status: Subject to final TSX Venture Exchange approval.
• Hold Period: Four-month-and-one-day hold period applies to all securities issued.
• Related Party Transaction: The issuance to the insider director is subject to Multilateral Instrument 61-101. The company relies on exemptions from formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(a) of MI 61-101, as the insider's participation does not exceed 25 per cent of the fair market value of the company's market capitalization.