Strathmore Announces Private Placement up to $1M

Rhea-AI Summary

Strathmore Plus Uranium Corporation (SUUFF) has announced a non-brokered private placement offering to raise up to $1 million through the sale of 8,333,334 units at C$0.12 per unit. Each unit includes one common share and one purchase warrant, with warrants exercisable at $0.15 per share for 36 months. The proceeds will fund working capital and exploration of the company's Wyoming properties. The offering includes a four-month hold period on securities, and insiders are expected to participate. While insider participation constitutes a related party transaction under MI 61-101, it's expected to be exempt from formal valuation and minority shareholder approval requirements. The closing is subject to receiving subscriptions and regulatory approval.

Positive

• Warrants provide potential upside with a 36-month exercise period at $0.15 per share
• Insider participation signals management confidence in the offering
• Proceeds will advance exploration of Wyoming properties

Negative

• Offering price of C$0.12 per unit may represent dilution for existing shareholders
• Additional shares and warrants will increase total shares outstanding
• Subject to regulatory approval which could delay or prevent closing

Kelowna, British Columbia--(Newsfile Corp. - June 3, 2025) - Strathmore Plus Uranium Corporation (CSE: SUU) (OTCQB: SUUFF) ("Strathmore Plus" or "the Company") is pleased to announce the initiation of a non-brokered private placement (the "Offering") to raise gross proceeds up to $1,000,000 from the sale of 8,333,334 units of the Company (each, a "Unit") at a price of C$0.12 per Unit (the "Offering Price").

Each Unit consists of one common share of the Company (each, (a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable to acquire one additional common share at an exercise price of $0.15 per share for a period of 36 months following the issue date of the Units.

The net proceeds of the Offering will be used for working capital and further exploration of the Company's Wyoming properties. Finder's fees and/or commissions may be paid in connection with that funding. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

All securities issued pursuant to the Offering will be subject to a hold period of four (4) months and a day from the closing date in accordance with securities laws. Insiders are expected to participate in the Offering. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The closing of this Offering remains subject to several conditions including receipt of subscriptions and regulatory approval, if required.

About Strathmore Plus Uranium Corp.

Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects 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:
Jamie Bannerman
Telephone: 1 250-868-6553
Email: jamie@rdcapital.com

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

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

Notice Regarding Forward-Looking Statements

This news release may contain certain "forward looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254328

FAQ

What is the size and price of Strathmore Plus Uranium's (SUUFF) private placement offering?

Strathmore Plus is offering up to $1 million through the sale of 8,333,334 units at C$0.12 per unit

What are the terms of SUUFF's warrant offering in the private placement?

Each warrant is exercisable at $0.15 per share for a period of 36 months following the issue date

How will Strathmore Plus use the proceeds from the private placement?

The proceeds will be used for working capital and further exploration of the company's Wyoming properties

Are insiders participating in Strathmore's private placement?

Yes, insiders are expected to participate in the offering, which constitutes a related party transaction under MI 61-101

What is the hold period for securities issued in SUUFF's private placement?

All securities issued will be subject to a hold period of four months and one day from the closing date