Strathmore Announces Closing Private Placement for Gross Proceeds of $1,100,000

Rhea-AI Summary

Strathmore Plus Uranium (OTCQB: SUUFF) closed a non‑brokered private placement on March 4, 2026, raising $1,100,000 through issuance of 7,333,333 units at $0.15 per unit.

Each unit includes one common share and one warrant exercisable at $0.25 for 36 months. Net proceeds will fund general working capital and exploration of Wyoming uranium properties, including drilling, soil sampling, and geophysical surveys. Finder's fees of $21,375 were paid. Securities carry a statutory hold of four months and one day; final CSE approvals may be required.

Positive

• Gross proceeds of $1,100,000 raised for operations
• Funds earmarked for Wyoming exploration including drilling
• Warrants provide potential additional funding at $0.25 exercise

Negative

• Issuance of 7,333,333 units causes immediate shareholder dilution
• Finder's fees of $21,375 reduce net proceeds
• Securities subject to 4 months + 1 day hold restricting liquidity
• Offering is subject to final CSE approvals, creating conditionality

Kelowna, British Columbia--(Newsfile Corp. - March 4, 2026) - Strathmore Plus Uranium Corporation (CSE: SUU) (OTCQB: SUUFF) (or "the Company") is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $1,100,000 through the issuance of 7,333,333 units at a price of $0.15 per unit (the "Offering"). Each unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.25 per share for a period of 36 months from the date of issuance.

The net proceeds of the Offering will be used for general working capital and exploration of the Company's Wyoming uranium properties, including drilling, soil sampling, and geophysical surveys.

In connection with the Offering, the Company paid finder's fees of $21,375 to certain eligible finders, in accordance with applicable CSE policies.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Offering is subject to any final regulatory approvals as may be required under the policies of the Canadian Securities Exchange.

About Strathmore Plus Uranium Corp.
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. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

Jamie Bannerman: jamie@rdcapital.com
250-868-6553 

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

This news release contains forward-looking statements relating to product development, plans, strategies, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking information in this news release includes, but is not limited to, the anticipated use of the net proceeds from the Offerings and the receipt of all necessary approvals for the Offering. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required by law.

Neither CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286254

FAQ

How much did Strathmore (SUUFF) raise in the March 4, 2026 private placement?

The company raised $1,100,000 through the private placement. According to the company, proceeds came from issuance of 7,333,333 units at $0.15 per unit intended for working capital and Wyoming exploration activities.

What are the warrant terms issued in Strathmore's March 4, 2026 financing (SUUFF)?

Each unit included one warrant exercisable at $0.25 per share for 36 months. According to the company, each Warrant allows purchase of one common share during that three‑year period.

How will Strathmore (SUUFF) use the net proceeds from the $1.1M offering?

Net proceeds will fund general working capital and exploration in Wyoming. According to the company, planned uses include drilling, soil sampling, and geophysical surveys on its uranium properties.

Did Strathmore (SUUFF) pay any finder's fees for the March 4, 2026 private placement?

Yes, the company paid finder's fees totaling $21,375 to eligible finders. According to the company, fees were paid in accordance with applicable CSE policies, reducing the net cash available.

Are the securities from Strathmore's (SUUFF) private placement immediately tradable?

No, all securities are subject to a statutory hold of four months and one day. According to the company, this hold period is per applicable Canadian securities laws, limiting short‑term liquidity for recipients.

Is the Strathmore (SUUFF) offering final or subject to further approvals?

The offering closed but remains subject to any final regulatory approvals required by the CSE. According to the company, final approvals under CSE policies may still be necessary.