Standard Uranium Ltd. (“
Standard Uranium” or the
“
Company”) (TSX-V: STND) (OTCQB: STTDF)
(Frankfurt: FWB:9SU) announces that effective at the opening of
markets on or about May 8, 2024, the Company will complete its
previously announced consolidation (the
“
Consolidation”) of its outstanding common share
capital on the basis of one (1) post-Consolidation common share for
every five (5) pre-Consolidation common shares. The
post-Consolidation common shares of the Company will continue to
trade under the existing ticker symbol “STND” and the new CUSIP:
85422Q848.
The Consolidation is being undertaken to
increase flexibility and competitiveness in the market, and to make
the Company’s securities more attractive to a wider audience of
potential investors.
As a result of the Consolidation, the Company’s
currently outstanding 230,649,292 common shares will be reduced to
approximately 46,129,859 common shares. No fractional common shares
will be issued as a result of the Consolidation. Instead, any
fractional common shares will be rounded down to the nearest whole
number of common shares.
A letter of transmittal will be mailed to
registered shareholders as of the date of this news release. The
letter of transmittal contains instructions on how registered
shareholders can exchange their share certificates evidencing their
pre-Consolidation common shares for new share certificates
representing the number of post-Consolidation common shares to
which they are entitled.
Beneficial shareholders holding their common
shares through a brokerage may be subject to different procedures
for obtaining their post-Consolidation common shares. If
shareholders have any questions in this regard, they are encouraged
to contact their respective brokerage or intermediary.
About Standard Uranium (TSX-V:
STND)
We find the fuel to power a
clean energy future
Standard Uranium is a uranium exploration
company and emerging project generator poised for discovery in the
world’s richest uranium district. The Company holds interest in
over 209,867 acres (84,930 hectares) in the world-class Athabasca
Basin in Saskatchewan, Canada. Since its establishment, Standard
Uranium has focused on the identification, acquisition, and
exploration of Athabasca-style uranium targets with a view to
discovery and future development.
Standard Uranium has successfully completed four
joint venture earn in partnerships on their Sun Dog, Canary,
Atlantic and Ascent projects totaling over $31M in work commitments
over the next three years from 2024-2027.
Standard Uranium’s Davidson River Project, in
the southwest part of the Athabasca Basin, Saskatchewan, comprises
ten mineral claims over 30,737 hectares. Davidson River is highly
prospective for basement-hosted uranium deposits due to its
location along trend from recent high-grade uranium discoveries.
However, owing to the large project size with multiple targets, it
remains broadly under-tested by drilling. Recent intersections of
wide, structurally deformed and strongly altered shear zones
provide significant confidence in the exploration model and future
success is expected.
Standard Uranium’s eight eastern Athabasca
projects comprise thirty mineral claims over 32,838 hectares. The
eastern basin projects are highly prospective for unconformity
related and/or basement hosted uranium deposits based on historical
uranium occurrences, recently identified geophysical anomalies, and
location along trend from several high-grade uranium
discoveries.
Standard Uranium's Sun Dog project, in the
northwest part of the Athabasca Basin, Saskatchewan,
is comprised of nine mineral claims over 19,603 hectares. The Sun
Dog project is highly prospective for basement and unconformity
hosted uranium deposits yet remains largely untested by sufficient
drilling despite its location proximal to uranium discoveries in
the area.
For further information contact:
Jon Bey, Chief Executive Officer, and ChairmanSuite 918, 1030
West Georgia StreetVancouver, British Columbia, V6E 2Y3Tel: 1 (306)
850-6699E-mail: info@standarduranium.ca
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” or “forward-looking information” (collectively,
“forward-looking statements”) within the meaning of applicable
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as of the date of this news
release. Forward-looking statements include, but are not limited
to, statements regarding: the timing and content of upcoming work
programs; geological interpretations; timing of the Company’s
exploration programs; the completion of the Consolidation; and
estimates of market conditions.
Forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
expressed or implied by forward-looking statements contained
herein. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Certain
important factors that could cause actual results, performance or
achievements to differ materially from those in the forward-looking
statements are highlighted in the “Risks and Uncertainties” in the
Company’s management discussion and analysis for the fiscal year
ended April 30, 2023.
Forward-looking statements are based upon a
number of estimates and assumptions that, while considered
reasonable by the Company at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies that may cause the Company’s actual financial
results, performance, or achievements to be materially different
from those expressed or implied herein. Some of the material
factors or assumptions used to develop forward-looking statements
include, without limitation: the completion of the Consolidation;
the future price of uranium; anticipated costs and the Company’s
ability to raise additional capital if and when necessary;
volatility in the market price of the Company’s securities; future
sales of the Company’s securities; the Company’s ability to carry
on exploration and development activities; the success of
exploration, development and operations activities; the timing and
results of drilling programs; the discovery of mineral resources on
the Company’s mineral properties; the costs of operating and
exploration expenditures; the presence of laws and regulations that
may impose restrictions on mining; relationships with and claims by
local communities and indigenous populations; availability of
increasing costs associated with mining inputs and labour; the
speculative nature of mineral exploration and development
(including the risks of obtaining necessary licenses, permits and
approvals from government authorities); uncertainties related to
title to mineral properties; assessments by taxation authorities;
and fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this
news release are expressly qualified by this cautionary statement.
Any forward-looking statements and the assumptions made with
respect thereto are made as of the date of this news release and,
accordingly, are subject to change after such date. The Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
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