Skyharbour’s Exciting Private Placement Targets C$8.5 Million in Funding
Skyharbour Announces Brokered Private Placement for Gross Proceeds of Up to C$8.5 Million
Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) is pleased to announce a brokered private placement for gross proceeds of up to C$8.5 million. The private placement will consist of a combination of flow-through units and non-flow-through units.
The flow-through units will be offered at a price of C$0.95 per unit and will consist of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each full warrant will entitle the holder to purchase one non-flow-through common share at a price of C$1.25 for a period of 24 months following the closing of the private placement.
The non-flow-through units will be offered at a price of C$0.80 per unit and will consist of one non-flow-through common share and one-half of one non-flow-through common share purchase warrant. Each full warrant will entitle the holder to purchase one non-flow-through common share at a price of C$1.10 for a period of 24 months following the closing of the private placement.
Skyharbour intends to use the proceeds from the private placement for exploration and development of its flagship Moore Uranium Project located in the Athabasca Basin of northern Saskatchewan, as well as for general working capital purposes.
The private placement is subject to regulatory approval, including the approval of the TSX Venture Exchange. The securities issued under the private placement will be subject to a hold period of four months and one day from the closing date.
The brokered private placement will be led by a syndicate of agents including Red Cloud Securities Inc., Haywood Securities Inc., Sprott Capital Partners, and Canaccord Genuity Corp. The agents will receive a cash commission equal to 6% of the gross proceeds of the private placement, as well as broker warrants equal to 6% of the number of units sold. Each broker warrant will entitle the holder to purchase one unit at the offering price for a period of 24 months following the closing of the private placement.
Skyharbour is a preeminent uranium exploration company with a portfolio of high-grade projects in Canada’s top mining jurisdictions. The company is well-positioned to benefit from the growing global demand for nuclear energy and is committed to advancing its projects through strategic partnerships and prudent financial management.
In summary, Skyharbour’s brokered private placement for gross proceeds of up to C$8.5 million represents a significant milestone in the company’s growth strategy. The proceeds will enable Skyharbour to accelerate exploration and development activities at its Moore Uranium Project, positioning the company for future success in the uranium market.
