Standard Uranium Announces Closing of First Tranche of Private Placement

Core Viewpoint - Standard Uranium Ltd. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $836,100 [1]. Group 1: Private Placement Details - The company issued a total of 7,751,250 non-flow-through units (NFT Units) at a price of $0.08 per unit, generating gross proceeds of $620,100, and 2,160,000 flow-through units (FT Units) at a price of $0.10 per unit, generating gross proceeds of $216,000 [2]. - Each NFT Unit consists of one common share and one-half of a common share purchase warrant, while each FT Unit consists of one common share and one-half of a warrant [2]. - The warrants allow holders to purchase one common share at a price of $0.15 until September 16, 2027 [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for exploration of the company's uranium projects in Saskatchewan and for working capital [4]. - Proceeds from the sale of FT Units will specifically be used to incur Canadian exploration expenses and flow-through mining expenditures, with an effective renouncement date not later than December 31, 2025 [4]. Group 3: Additional Information - The company paid finders' fees of $33,275 and issued 393,450 non-transferable share purchase warrants to parties that assisted in the offering [3]. - A statutory hold period for all securities issued will last until January 17, 2026 [5]. - Certain officers and their affiliates participated in the offering, which is classified as a related party transaction [6]. Group 4: Company Overview - Standard Uranium is focused on uranium exploration and holds interests in over 233,455 acres (94,476 hectares) in the Athabasca Basin, Saskatchewan, which is known for its rich uranium deposits [8]. - The company's Davidson River Project spans 30,737 hectares and is considered highly prospective for basement-hosted uranium deposits [9]. - The eastern Athabasca projects cover over 42,384 hectares and are also deemed highly prospective based on historical occurrences and recent geophysical anomalies [10].