By Devika Patel
Knoxville, Tenn., Jan. 8 - Strathmore Minerals Corp. said it plans a non-brokered private placement of units to raise about C$8.25 million.
The company will sell units at C$0.55 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.75 for two years.
Settlement is expected Jan. 15.
Proceeds will be used to develop the company's uranium projects in New Mexico and Wyoming and for general working capital.
Vancouver, B.C.-based Strathmore is a uranium exploration company.
| Issuer: | Strathmore Minerals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$8.25 million (approximate)
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 15
|
| Stock symbol: | TSX Venture: STM
|
| Stock price: | C$0.77 at close Jan. 8
|
| Market capitalization: | C$55.8 million
|
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