Stallion Uranium Secures $15 Million to Accelerate Exploration Efforts
Stallion Uranium Closes Final Tranche of Successful Financing
Stallion Uranium Corp. (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) recently announced the closing of the second and final tranche of its non-brokered private placement, raising a notable sum of $15,000,000. The latest closing involved the sale of 22,305,600 units and 30,139,600 flow-through units at a price of $0.20 each, contributing to a strong financial position for the company to further its exploration activities.
Strengthening the Company for Future Growth
According to Stallion’s CEO Matthew Schwab, the successful completion of this financing marks a transformative event for the Company and its shareholders. It reflects the unwavering support from both new and existing shareholders, showcasing their confidence in Stallion’s potential within the uranium market, particularly as demand rises globally.
Exploration Plans in the Athabasca Basin
The gross proceeds from this financing will be pivotal in advancing exploration on Stallion’s promising resource claims located in the Athabasca Basin. This region is renowned for housing some of the largest high-grade uranium deposits in the world, positioning Stallion favorably for growth.
Investor Confidence and Future Development
Schwab emphasized the importance of this funding, as it provides Stallion with the resources to embark on disciplined, high-impact exploration throughout the Winter season. The momentum gained from this financing phase places Stallion in a competitive position to unlock significant value for its stakeholders.
Detailed Breakdown of the Offering
The Offering consisted of units, including non-flow-through (NFT) units and flow-through (FT) units, with each type structured to encourage investment while adhering to Canadian securities regulations. Each flow-through unit, in particular, consists of common shares that will allow the company to leverage tax deductions on exploration expenses for its shareholders.
Compensation Structure for Finders
As part of the Offering, Stallion Uranium allocated finders' fees to eligible independent finders. The company paid a cash fee totaling $154,959 to Canaccord Genuity Corp., among other compensation packages including the issuance of finder’s units and warrants, further facilitating a robust network of partnership and support.
Control Person Created through Subscription
The Offering also led to the creation of a Control Person when Mr. Matthew Mason acquired 15,000,000 FT Units, raising the stakes for his involvement with the company. This transaction was approved by disinterested shareholders, reflecting a strategic move that aligns with Stallion's growth trajectory.
About Stallion Uranium Corp.
Focused on 'Fueling the Future with Uranium', Stallion Uranium is navigating the complexities of the uranium market through its exploration of approximately 1,700 square kilometers in the Athabasca Basin. Alongside its joint venture partner Atha Energy, the company is strategically positioned to explore one of the largest high-grade uranium projects in the region.
Leadership and Vision
The leadership team at Stallion includes experts in uranium and precious metals exploration, equipped with extensive experience in capital markets. Their expertise is crucial for navigating the early stages of property acquisition and exploration.
Frequently Asked Questions
What is the total amount raised in the financing?
Stallion Uranium raised a total of $15 million through the private placement of NFT and FT units.
What will the funds be used for?
The funds will primarily be allocated to exploration expenditures on the company’s resource claims in Saskatchewan, as well as for general working capital.
Who was involved in the private placement?
The financing attracted participation from both existing and new shareholders, demonstrating strong investor confidence in the company's future.
What are the units involved in the Offering?
The Offering included non-flow-through units and flow-through units, each with associated warrants that provide an opportunity for future share purchases at a set price.
How is Stallion Uranium positioned for the future?
With financial backing and a strategic plan in place, Stallion Uranium aims to advance exploration activities, capitalizing on growth opportunities within the uranium market.
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