Skyharbour closes $2.1 million flow-through share placement

Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) completed a private placement of flow-through shares for gross proceeds of CAD $2,103,898.94, according to a company statement.

The Vancouver-based uranium exploration company issued 5,069,636 flow-through shares at CAD $0.415 per share. The shares qualify for Canada's federal 30% Critical Mineral Exploration Tax Credit under the Income Tax Act.

Strategic institutional investors comprised most of the subscription base for the non-brokered private placement. Skyharbour paid finder's fees of CAD $120,008.94 to an arm's-length party in connection with the financing.

The company plans to use the funds for its 2026 exploration campaign, including exploration and drilling at its Russell Lake and Moore Lake uranium projects in Canada's Athabasca Basin.

One director participated in the placement, purchasing 250,000 shares for $103,750. This related party transaction falls under Multilateral Instrument 61-101 regulations, though the company expects to rely on exemptions since the insider participation will not exceed 25% of the company's market capitalization fair value.

The financing requires final approval from the TSX Venture Exchange. All securities issued carry a four-month-and-one-day hold period restriction.

Skyharbour holds uranium exploration projects covering over 616,000 hectares in the Athabasca Basin. The company has joint ventures with Denison Mines, Orano Canada Inc., and other industry participants across multiple uranium projects in the region.

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