Uranium company Stallion Uranium declares plans for private placements, potentially raising up to $12 million through both flow-through and non-flow-through options.
In a recent announcement, Stallion Uranium Corp has unveiled plans for a private placement to fund its exploration activities in the Athabasca Basin, a region known for the world's largest high-grade uranium deposits.
The private placement aims to raise up to $12,000,000, with each unit priced at $0.20. The offering will consist of both flow-through and non-flow-through units. The use of proceeds will be as follows: the gross proceeds from the flow-through units will be allocated for exploration expenditures in Saskatchewan, while the net proceeds from the non-flow-through units will be utilised for exploration and development activities, as well as working capital and general corporate purposes.
Stallion Uranium Corp anticipates the creation of a new Control Person through the purchase of 15,000,000 flow-through units by Mr. Matthew Mason. This move is subject to necessary approvals, including those from the TSX Venture Exchange (TSXV) and the Company's disinterested shareholders.
Each flow-through unit consists of a flow-through common share and a purchase warrant, entitling the holder to purchase additional shares at $0.26 each for a period of 60 months. Similarly, each non-flow-through unit comprises a non-flow-through common share and a purchase warrant.
Insiders of the company will participate in the private placement, which will be considered a related party transaction. The offering is not for distribution in the United States and is subject to customary conditions, including the receipt of all necessary corporate and regulatory approvals.
Stallion Uranium Corp's corporate office is located at 700 - 838 West Hastings Street, Vancouver, British Columbia, V6C 0A6. For more information, interested parties can contact the company via phone at 604-551-2360 or email at [email protected].
It is important to note that this news release contains forward-looking statements that involve assumptions, risks, and uncertainties. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of any statements in this news release.
Stallion Uranium Corp, in joint venture with Atha Energy, holds the largest contiguous project in the Western Athabasca Basin near multiple high-grade discovery zones. The leadership and advisory teams of Stallion Uranium Corp consist of uranium and precious metals exploration experts with capital markets experience and technical talent.
[1]: Source: GlobeNewswire via QuoteMedia [2]: Source: Stallion Uranium Corp News Release [5]: Source: Stallion Uranium Corp News Release
The private placement by Stallion Uranium Corp, aimed at raising funds for its uranium exploration activities, will also be utilized for both development activities and general corporate purposes, falling under the finance industry. The joint venture between Stallion Uranium and Atha Energy, focusing on uranium exploration in the Athabasca Basin, highlights the company's involvement in the energy sector.
