Strathmore Announces Closing Private Placement for Gross Proceeds of $1,419,550
Summary
Kelowna, British Columbia--(Newsfile Corp. - February 28, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) (or "the Company") is pleased to report that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1,419,550 through the issuance of 2,839,100 units at a price of $0.50 per unit. The Common Shares issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Pursuant to the policies of the TSX Venture, the Debt Settlements cannot close prior to five business days from the date of this announcement.Proceeds from the Offering will be used for working capital and further exploration of the Companys Wyoming properties, including drilling, soil sampling and geophysics.The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the listing of the Common Shares issuable from the sale of the Units on the TSX Venture Exchange. The Common Shares issuable from the sale of the Units and upon the exercise of the Warrants will be subject to a hold period ending on the date that is four months and one day from the issue date of the Unit in accordance with applicable securities laws.Strathmore has three fully permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data.