Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. The Private Placement is subject to final TSX Venture Exchange approval and all securities issued are subject to a four-month-and-one-day hold period. The Company intends to use the proceeds from this Private Placement for exploration and upcoming drilling programs. Each Finder's Warrant is exercisable into one common share for a period of up to three (3) years at a price of CAD $0.48. In addition, the Company has paid finder's fees of $50,016 and issued 104,200 finder's warrants (the“Finder's Warrants”) to an arm's-length party. Each Warrant will entitle the holder to purchase one non-flow through common share for a period of three (3) years at a price of CAD $0.65 per share. Each Unit is comprised of one flow-through common share and one-half of one warrant (each whole, a“Warrant”).
Skyharbour has allotted and issued 7,292,333 units (the“Units”) at a price of CAD $0.48 per Unit. The Private Placement was subscribed for by two strategic institutional investors.
(TSX-V: SYH ) (OTC QB : SYHBF ) (Frankfurt: SC1P ) (the“ Company ”) announces that it has closed a non-brokered private placement financing for total gross proceeds of CAD $3,500,319.84 (the“Private Placement”). 24, 2022 (GLOBE NEWSWIRE) - Skyharbou r Resources Ltd.
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