Standard Uranium closes $484,000 second tranche of private placement

Standard Uranium Ltd. (TSXV: STND) closed the second tranche of its private placement offering, raising $484,000 in gross proceeds according to a company statement.

The uranium exploration company issued 1,550,000 non-flow-through units at $0.08 per unit for $124,000 and 3,600,000 flow-through units at $0.10 per unit for $360,000. Each unit includes one common share and half of a common share purchase warrant exercisable at $0.15 until September 24, 2027.

Combined with the first tranche, Standard Uranium has raised $1,320,100 through the issuance of 9,301,250 non-flow-through units and 5,760,000 flow-through units. The company plans to complete additional tranches to reach total gross proceeds of $3,500,000 and has applied for a TSX Venture Exchange extension to complete the offering by October 31, 2025.

Standard Uranium also announced a Listed Issuer Financing Exemption offering of up to 20,000,000 flow-through units for Canadian residents outside Quebec. Securities under this exemption will not be subject to a hold period under Canadian securities laws.

The company paid $21,000 in finders' fees and issued 210,000 non-transferable warrants to parties who assisted with the placement. All securities from the second tranche are subject to a statutory hold period until January 25, 2026.

Standard Uranium holds interests in over 233,455 acres in Saskatchewan's Athabasca Basin. The company stated it intends to use proceeds for exploration of its uranium projects and working capital purposes.

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