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Standard Uranium (TSXV:STND) shares dip despite capital raise
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  • Mining company Standard Uranium (STND) has closed its short form prospectus offering after raising C$3,413,000 in gross proceeds
  • Through the offering, the company issued 5.8 million units and 10,241,000 flow-through units
  • Standard Uranium will primarily use the proceeds of the offering for exploration and development of its Davidson River Project
  • In other news, the company has appointed Laurie Thomas as its Vice President of Investor Relations
  • Standard Uranium (STND) is down 12.12 per cent and is currently trading for $0.14 per share

Mining company Standard Uranium (STND) has closed its short form prospectus offering after raising C$3,413,000 in gross proceeds.

Through the offering, the company issued 5.8 million units and 10,241,000 flow-through units. The units were offered at a price of $0.20 each, while the flow-through units were offered at $0.22 each. 

Standard Uranium’s units consisted of one common share in the company and one-half of a share purchase warrant. Each flow-through share contained one share issued on a flow-through basis and one-half of a warrant.

The company will primarily use the proceeds of the offering for exploration and development of its Davidson River Project. Some funds may also go towards working capital purposes.

In other news, Standard Uranium has announced its appointment of Laurie Thomas to the role of Vice President of Investor Relations. Laurie brings over 15 years of professional experience in investor relations with her to her new position at Standard Uranium.

Prior to joining the company, she worked as the Vice President Corporate Relations at the TSX-listed uranium and cobalt miner UEX Corporation (UEX). Before that, Laurie acted as Manager of Investor Relations at the world’s largest publicly traded uranium company Cameco Corporation (CCO).

Standard Uranium’s CEO, Jon Bey, said that Laurie’s addition to the company’s Investor Relations team is significant.

“Her extensive background in the uranium sector, as an Investor Relations and accounting professional, is very unique and will be an immeasurable benefit in helping us to be a leading Canadian uranium exploration company focused in the Athabasca Basin Uranium District,” he said.

Despite the company’s successful capital raise and recent workforce addition, Standard Uranium’s shares have been in the red for most of the day, dropping as much as 24.24 per cent.

Standard Uranium (STND) is now down 18.18 per cent and trading for $0.14 per share, as of 3:00pm EDT.

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