Kelowna, British Columbia–(Newsfile Corp. – October 12, 2022) – Strathmore Plus Uranium. (TSXV: SUU) (OTC: SUUFF) (the “Company“) is pleased to announce that due to significant investor demand, the Company has increased the size of its previously announced private placement (the “Offering“) from C$600,000 to up to C$1,400,000 at $0.33 per Unit (the “Offering”). Each Unit consists of one common share of the Company and one whole common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.40 per share for a period of 24 months following the date of issuance.
The Company may pay finder’s fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. Proceeds from the Offering will be used for general working capital purposes.
This 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, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue of the units. The Offering remains subject to the acceptance of the TSX Venture Exchange.
The Company further announces that is has granted 45,000 stock options. The options are granted pursuant to the Company’s Option plan and are exercisable at $0.33 per share for a term of 5 years and are subject to the optionees continuing to act as consultants of the Company.
About Strathmore Plus Uranium Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
Cautionary Statement: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the securities offered under the Private Placement and the use of proceeds from the Private Placement,. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the net proceeds of the Private Placement as intended. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Source NewsFile Corp