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FINWIRES

Standard Uranium Secures C$3 Million Financing

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Standard Uranium (STND.V) secured C$3 million in financing from a Southeast Asian conglomerate through a private placement, the uranium exploration company said Friday.

The company plans to use the proceeds to advance exploration at the Davidson River project in Saskatchewan, as well as for working capital and general corporate purposes.

Under the offering, Standard Uranium will issue about 39.2 million units priced at C$0.0765 each. The investor will acquire a 19.7% non-diluted stake in the company following the transaction.

The units are made up of a share and a three-year warrant to buy a share for C$0.115.

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