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News - Full Story
 Related Quotes
 Strathmore Plus Uranium Corp Common Shar  0.2752   0.005  1.85%
 Strathmore Plus Uranium Corp  0.38   0.01  2.56%
 Enter Symbols: 

Strathmore Announces Closing Private Placement for Gross Proceeds of $1,419,550

Kelowna, British Columbia--(Newsfile Corp. - February 28, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) (or "the Company") is pleased to report that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1,419,550 through the issuance of 2,839,100 units at a price of $0.50 per unit. Each Unit consists of one common share of the Company and one-half common share purchase warrant (a "Warrant"). Each Full Warrant entitles the holder to purchase one common share of the Company at a price of $0.70 per share for a period of 24 months following the date of issuance.

The Company will pay 7% cash commissions for a total of $88,480.00 and a total of 176,960 Finders Warrants issued under the same terms as the warrants noted above, to the qualified Finder in connection with subscriptions from subscribers introduced to the Offering.

The Company further announces that it has entered into debt settlement agreements with certain insiders and consultants, pursuant to which the Company has agreed to settle an aggregate amount of $119,000 in outstanding debt in exchange for the issuance of 238,000 units. The Common Shares issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Pursuant to the policies of the TSX Venture, the Debt Settlements cannot close prior to five business days from the date of this announcement.

Proceeds from the Offering will be used for working capital and further exploration of the Company's Wyoming properties, including drilling, soil sampling and geophysics.

The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the listing of the Common Shares issuable from the sale of the Units on the TSX Venture Exchange. The Common Shares issuable from the sale of the Units and upon the exercise of the Warrants will be subject to a hold period ending on the date that is four months and one day from the issue date of the Unit in accordance with applicable securities laws.

About Strathmore Plus Uranium Corp.

Strathmore has three fully permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

Jamie Bannerman jamie@rdcapital.com
250-868-6553

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199666

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