Strathmore Plus Uranium closes $1.1 million private placement

Strathmore Plus Uranium Corporation (CSE: SUU) (OTCQB: SUUFF) completed a non-brokered private placement raising $1,100,000 in gross proceeds through the issuance of 7,333,333 units priced at $0.15 each.

Each unit includes one common share and one warrant. The warrants allow holders to purchase additional shares at $0.25 per share within 36 months of issuance.

The company will use net proceeds for general working capital and exploration activities at its Wyoming uranium properties, including drilling, soil sampling, and geophysical surveys. Strathmore paid $21,375 in finder's fees in connection with the offering.

All securities issued are subject to a four-month-and-one-day statutory hold period under Canadian securities laws. The offering requires final regulatory approvals from the Canadian Securities Exchange.

Strathmore operates three permitted uranium projects in Wyoming: Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in Wyoming-type roll front deposits based on historical drilling data. Night Owl is a former producing surface mine that operated in the early 1960s.

You May Also Be Interested In