Stallion Uranium Corp. (OTC:STLNF) Stock In Focus On Private Placement Financing

News about the raising of fresh funds is almost always seen as a significant development by most investors, and hence, Stallion Uranium Corp. (OTC:STLNF) could well be a company worth tracking this morning. On December 22, the company hit the news cycle after it announced that it had concluded a non-brokered private placement offering that led to raising gross proceeds to the tune of $300,000.

In connection with the private placement, the company issued a total of 1,250,000 flow-through units for a price of $0.24 each. Each unit was comprised of one flow-through common share and half of one common share purchase warrant. The holder of a whole warrant would be entitled to pick up a solitary non-flow through common share in Stallion Uranium Corp. for a period of up to two years for $0.30 each.

It was also announced in the news release by Stallion Uranium Corp. that it had paid a finder’s fee of $21000 and issued as many as 87500 share purchase warrants to an arm’s length party. A solitary finder’s warrant would be exercisable into a common share in the company for $0.30 up until two years. Stallion Uranium Corp. noted that the proceeds from the private placement would be used for exploration-related expenditures related to its Atha Energy IV and Coffer projects.

However, all the securities that had been issued as part of the private placement were going to be subject to a hold period that would expire on April 23, 2024. It was also noted that the private placement was still subject to final approval from the TSX Venture Exchange. As a company, Stallion Uranium Corp. is trying to ‘Fuel the Future’ with uranium, and it is involved in the exploration of more than 3000 square kilometers in the Athabasca Basin.