Stallion Uranium finishes the second and concluding phase of an oversubscribed $15 million non-mediated private investment round
Stallion Uranium Corp, in partnership with Atha Energy, has announced the successful closure of a $15 million private placement. This development comes as the company holds the largest contiguous project in the Western Athabasca Basin, a region adjacent to multiple high-grade uranium discovery zones.
The placement consisted of a total of 52,445,600 units and flow-through units. Each unit comprises one common share and one warrant, while each flow-through unit includes one flow-through common share and one warrant. The securities issued are subject to a four-month and one-day hold period.
Notable participants in the placement include Canaccord Genuity Corp, D-J Sheehan Consulting Limited, Research Capital Corporation, and Ventum Financial Corp, for whom finder's fees were paid. A work fee was also paid to Canaccord and Taylor K. Housser for their advisory, consulting, and support services.
The new shareholder, Mr. Matthew Mason, was created through his purchase of 15,000,000 FT Units. As an insider of the company, Mr. Mason's participation in the second tranche of the Offering was considered a "related party transaction" under MI 61-101. However, the participation did not trigger the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of any securities issued to him nor the consideration that will be paid by him will exceed 25% of the company's market capitalization.
The gross proceeds from flow-through units will be used for exploration in Saskatchewan, while the net proceeds from non-flow-through units will be used for exploration, development, and general corporate purposes.
It's important to note that the TSX Venture Exchange has not accepted responsibility for the adequacy or accuracy of this release. Furthermore, the news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered or an exemption is available.
Stallion Uranium Corp is committed to exploring roughly 1,700 sq/km in the Athabasca Basin, a region known for its high-grade uranium deposits. The company's leadership and advisory teams are composed of uranium and precious metals exploration experts with capital markets experience and technical talent for acquiring and exploring early-stage properties.
However, forward-looking statements in this news release are subject to a number of risks and uncertainties, many of which are beyond the company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements.
For more information about Stallion Uranium Corp and its activities, please visit the company's website or contact its investor relations department.
